At the end of his participation in the Egyptian trade mission to UK SCZONE’s chairman participates in a panel discussion and a round table with investors

At the end of his participation in the Egyptian trade mission to the United Kingdom; Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone(SCZONE), participated as a keynote speaker in a panel discussion titled “Exploring the Industrial and Infrastructure Advantages in Egypt”, alongside Mr. Khaled Abbas, Chairman and CEO of the Administrative Capital for Urban Development, Mr. Sameh Shenouda, Executive Director & Chief Investment Officer, Africa Finance Corporation, Mr. Hadi Akiki, Director of Electrical Engineering & Telecommunications at Dar Al-Handasah, and Mr. Omar Fouda, Corporate Investment Director at Elsewedy Electric. The session was moderated by Mr. Harry Boyd-Carpenter, Managing Director of Climate Strategy and Delivery at the European Bank for Reconstruction and Development (EBRD). The session reviewed the features of industry and infrastructure in Egypt through the speeches of the mission participants.

“Preparing the infrastructure has been a strategic priority for SCZONE since its establishment, based on the foundations of Egypt’s economic vision. Therefore, we have succeeded in preparing the industrial zones to receive various types of industries, which amounted to 21 industrial and service sectors targeted for localization, in addition to the ports development operations that have gained the confidence of major global operators to cooperate with SCZONE, and have enhanced the position of SCZONE ports within the global ports classifications, and have succeeded in achieving remarkable trading rates despite the various surrounding regional and global circumstances. The investment in infrastructure has been reflected in the increase in the volume of investments in industrial zones and ports, as it has reached nearly $6 billion during the past two years. The infrastructure has also added a competitive advantage to SCZONE in the field of green fuel production, whether by receiving its production plants or by hosting ships’ bunkering services through SCZONE’s ports.” Mr. Waleid Gamal El-Dien declared during the session.

Chairman of SCZONE also participated in a roundtable discussion for investors, alongside Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority, and Mr. Khaled Abbas, Chairman & CEO, of Administrative Capital for Urban Developments, to explain the efforts made to create a conducive investment climate in Egypt. During the discussion, Mr. Waleid Gamal El-Dien demonstrated the efforts of SCZONE in providing a competitive business environment through financial and non-financial incentives and demonstrated success stories of international economic cooperation with SCZONE in various industrial and service sectors.

“We aim to transform SCZONE into a global hub for the green fuel industry by providing an area of up to 30 million square meters that includes various facilities for green fuel production. SCZONE aims to bring together various companies working in this field in one location to facilitate the operation of these facilities through the “shared facilities” model, where a water plant will be established to provide the needs for green fuel production, and a utility corridor to transport production to the port and from there to various markets, which reduces the production cost and contributes to reducing the prices of green fuel.” Mr. Waleid Gamal El-Dien, chairman of SCZONE, said.