- June 13, 2024
- Posted by: Ahmed Abed
- Category: 2024, EN
Mr. Waleid Gamal El Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), received a delegation from the New Development Bank (NDB), headed by Mrs. Dilma Rousseff, President of the Bank and former president of Brazil, in order to explore SCZONE Closely and discuss possible aspects of cooperation with the Bank in areas of common interest. This is in the presence of Dr. Rania Al-Mashat, Minister of International Cooperation, as this visit coincides with the holding of the first forum of the New Development Bank (NDB) outside the BRICS founding countries, which will be held on the occasion of Egypt’s accession to the bank in March 2023, under the title “Exploring New Horizons.”
During the visit, Mr. Waleid Gamal El-Dien reviewed the capabilities of SCZONE, including 4 industrial zones and 6 seaports on the Mediterranean Sea and the Red Sea.
“SCZONE represents Egypt’s vision in maximizing the use of SCZONE potential by equipping it with a world-class infrastructure, in addition to the integration strategy between the Ports, industrial zones, and logistics areas, which provided a model for supporting supply chains and the movement of trade and industry. This readiness contributed to SCZONE being a hub for green fuel industries, in addition to the strategic location and readiness of seaports that enabled them to provide ships’ bunkering services with fossil fuels and green fuels. We target several industrial sectors, such as the food, pharmaceutical, and automotive industries. SCZONE also offered a diversity of incentives through direct and indirect financial incentives, and exemptions for goods that are exported.” Mr. Waleid Gamal El-Dien declared.
” SCZONE already has existing partnerships with the BRICS countries, most notably the partnership with Chinese and Indian investments, which represented 45% of the total contracts in SCZONE in the recent period. In addition to the “TEDA-Egypt” industrial zone, which represents the Egyptian-Chinese economic cooperation, it reached the presence of 160 companies with a total investment of $2 billion. We also have cooperation with China in the field of port operation through the international shipping lines consortium Hutchison, COSCO, and CMA. We also signed new projects in the promising “Qantara West” industrial zone. Hence, there are opportunities for cooperation with a number of the BRICS countries in the sectors of common interest, especially with regard to industrial activities and the field of green fuel, as the future holds more opportunities for cooperation between SCZONE and the business communities of the BRICS countries based on previous successes.” Mr. Waleid Gamal El-Dien added.
For her part, Dr. Rania Al-Mashat, Minister of International Cooperation, said that SCZONE is the result of the efforts made by Egypt over the past ten years to develop sustainable infrastructure, exploit its strategic location to connect the continents of Asia and Africa, and using this advantage to attract foreign Direct investments, localization of industry, and encouraging export operations from the region as a global logistics center for various countries of the world.
” The Ministry of International Cooperation, through its role to strengthen joint relations with development partners, works to publicize the efforts made by Egypt and inform international institutions and bilateral partners of the successive developments to create an investment environment and encourage the business community, in addition to publicizing the ongoing developments in SCZONE. There are great prospects for partnership between the New Development Bank, the business community, and national bodies in Egypt in connection with its role aimed at enhancing joint action between the countries of the South and stimulating development efforts in developing countries and emerging economies.” Dr. Rania Al-Mashat stated
“There are other partnerships being implemented with development partners in SCZONE, including the investor services digitization program in cooperation with the European Bank for Reconstruction and Development (EBRD), which works to digitize investor services, in addition to a Chinese grant to establish vocational training center in SCZONE on an area of about 40 thousand square meters, will be equipped with the latest technology for various industries, most notably the energy industries, renewable energy, cars, robotics, electronics, flexible industries, communications technology, as well as language education. It aims to train and qualify workers, enhance their skills, and prepare them for the labor market.” Dr. Rania Al-Mashat added
During the visit, the delegation inspected the development works at Sokhna Port and visited the Chinese industrial developer “TEDA-Egypt”, which represents a partnership of more than 15 years with SCZONE.
