SCZONE Chairman Meets Ambassador of Hungary in Cairo and the Economic Counsellor at the Hungarian Embassy

Mr. Waleid Gamal El-Dien, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), received at SCZONE’s headquarters in Sokhna, Dr. Rita Herencsár, Ambassador of Hungary to Cairo, and Mr. Patrik Maruzs, Economic and Commercial Counsellor at the Hungarian Embassy. The visit aimed to explore opportunities for cooperation and strengthen economic relations between the two sides. This initiative aligns with SCZONE’s commitment to strengthening relations with development partners worldwide and promoting bilateral cooperation with friendly countries in support of the Sustainable Development Goals, thereby enhancing SCZONE’s position as a global industrial and logistics hub. The meeting was attended by several SCZONE officials.

“SCZONE offers a unique set of competitive advantages, including advanced infrastructure, six seaports on the Red Sea and Mediterranean Sea, connected to global supply chains, and four industrial zones capable of accommodating diverse industries. With a wide range of direct and indirect financial incentives, sector-specific incentives, reliable energy supply, and skilled technical labor at competitive costs, we present an attractive gateway for European companies seeking to expand into regional and global markets,” stated Mr. Waleid Gamal El-Dien, Chairman of SCZONE.

“We highly value our partnership with the Hungarian side, particularly in sectors that add value to the Egyptian economy. SCZONE is keen on localizing the automotive industry and expanding data center projects, while exploring opportunities for cooperation in feeder industries for the railway and electricity sectors. We also look forward to benefiting from the technological expertise of Central and Eastern European countries, in addition to showcasing the diverse investments our zone hosts from various countries,” Mr. Waleid Gamal El-Dien, Chairman of SCZONE, added.

We highly appreciate the significant progress achieved by SCZONE and are keen to explore cooperation in manufacturing, exports, infrastructure investment, solar power, and water management. We also plan to arrange meetings between the SCZONE Chairman and Hungarian companies interested in investing in SCZONE, as well as to engage in joint projects under the public-private partnership model, thereby opening new markets for both sides,” Dr. Rita Herencsár, Ambassador of Hungary, Said.

Following the meeting, the Hungarian delegation conducted a tour that included several projects within SCZONE, such as Ecopat Industrial Development Company, El Sewedy National Company for Industries and Engineering Projects, and the National Steel Fabrication Company (NSF). The delegation was introduced to existing international partnerships in SCZONE and the available capabilities for industrial integration.

It is also worth noting that the Chairman of SCZONE had previously led a promotional tour to Hungary in February 2023, heading an official delegation. During the visit, he held extensive meetings in Budapest with officials from the Hungarian Export Promotion Agency (HEPA) and met with representatives of Hungarian companies operating in various industrial sectors, on the sidelines of his participation in the 4th Egyptian–Hungarian Joint Committee.