SCZONE participates in the “Africa Summit for Regulatory Affairs” “AfriSummit” to demonstrate the investment opportunities in the medical sector

The Suez Canal Economic Zone participates in the medical exhibition and conference “AfriSummit” in its fourth edition, which is organized by the Egyptian Authority for Unified Procurement, Medical Supply and the Management of Medical Technology, where SCZONE will demonstrate through its pavilion at the exhibition the advantages of investment in SCZONE and the efforts made in the targeted medical sectors, including medical supplies and devices, active medical materials and pharmaceuticals.

Participation in this exhibition comes as part of the promotional efforts made by SCZONE to demonstrate the investment opportunities in its targeted sectors, especially the medical field, as the African-Egyptian market in particular, represents a promising market for all investors in the medical industry, and SCZONE is one of the most important platforms that can support investments in this field through investment incentives that allow the investor to benefit from the Egyptian local market in addition to foreign markets within the African continent.

In this context, Mr. Waleid Gamal El-Dien, Chairman of the SCZONE explained that SCZONE is working to localize the manufacture of medicines, active ingredients, medical devices, and others. It is planning to establish a pharmaceutical industrial zone on an area of 4M square meters to attract pharmaceutical industries in cooperation with success partners from investors within the SCZONE, and the success stories in this field such as: Ateco Pharma factory in the Sokhna industrial zone, which specializes in the manufacture of IV Fluids, located on an area of 20,000 m2 and an investment cost one billion pounds, and Genafex Egypt factory for the manufacture of vaccines, on an area of 49,000 m2, and an investment cost of $150 M, and IDI factory, which is located within the East Port Said Industrial Zone on an area of 20,000 m2, which specializes in the manufacture of many pharmaceuticals, which include capsules, juices, tablets, vials, creams, and other pharmaceutical forms.

The signing of a contract for the Arab Egyptian Pharmaceutical Company (ARAB API) factory to manufacture the active ingredient for the medicine is also being finalized on an area of 85,000 m2, with a total investment of $165 M.

It is worth mentioning that the medical exhibition and conference “AfriSummit” in its fourth edition, is held with the participation of more than 36 countries, in addition to more than 136 speakers, and 450 participants from different companies, to discuss cooperation between Egypt and Africa in terms of improving the quality of health care services, and reviewing investment opportunities for African companies to work in the Arab countries.