SCZONE receives a high-level delegation from the Chinese Tianjin

Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), met with a high-level delegation from the Chinese municipality “Tianjin” in the Sokhna Industrial Zone within the scope of the industrial developer “TEDA-Egypt”. The delegation headed by Mr. Xie Yuan, Vice Mayor of Tianjin Municipal People’s Government, and the meeting was held in the presence of Mr. Wang Zhiyi, Deputy Secretary-General of Tianjin Municipal People’s Government, Mr. Wang Zhinan, Director of Tianjin Transport Commission, Mr. Wang Honghai, Director of Tianjin Port and Shipping Administration, as well as Deputy Director of Tianjin Investment Promotion Bureau, official of the Foreign Affairs Office of Tianjin Municipal People’s Government, and Chairman of the Board of Directors of Tianjin Corporation TEDA Investment Holding company, the Vice President of Tianjin Branch of China Development Bank, and Chairman of China-Africa TEDA Investment company, in order to discuss aspects of economic cooperation and enhance the exchange of experiences between the ports of Sokhna and Tianjin, in addition to building on the successes achieved by the strategic partnership between SCZONE and the industrial developer TEDA, which is the investment arm of the Tianjin. This meeting comes in the wake of the delegation’s visit to SCZONE’s headquarters in the Administrative Capital.

During the proceedings of the meeting, Mr. Waleid Gamal El-Dien and Mr. Xie Yuan witnessed the signing of the land allocation contract between the industrial developer (TEDA-Egypt) and Xinjin Textile Printing and Dyeing Products company for establishing a project on an area of 20 thousand square meters with a total investment of $5.5 million, and the signing of a land allocation contract between the industrial developer (TEDA-Egypt) and Shengyuan Construction Engineering Company, to establish a project on an area of 15.86 thousand square meters with a total investment of $4 million.

They witnessed the unveiling of The Kemedi Chemical Company project, which is located on an area of 59 thousand square meters, with a total investment of $17.2 million, the Jasmine Industrial Investment project, which is located on an area of 20 thousand square meters, with a total investment of $1.9 million, and the Tiger King Tools Project, located on an area of 20,000 square meters, with a total investment of $1.9 million.

“The close and historical bilateral relations between the two countries and the support of the political leadership were reflected in serious economic cooperation and an effective strategic partnership aimed at achieving sustainable economic development. The success of the cooperation with the industrial developer “TEDA-Egypt” is considered the main starting point that built bridges of trust between SCZONE and Chinese investments, as the ramifications of which we see today. SCZONE succeeded in attracting 128 projects worth $6 billion, in the past 2 years, of which Chinese investments represent 40%. This success also extends through the expansions of the industrial developer TEDA. SCZONE is working to provide all types of support to attract more investments. There is a legitimate ambition to level up the number of Chinese companies in SCZONE to reach 1,000 by 2030.” Mr. Waleid Gamal El-Dien stated.

” We are thankful to SCZONE for the long-term support it provides to the TEDA. This year marks the 10th anniversary of the comprehensive strategic partnership between Egypt and China, and the TEDA Economic and Commercial Cooperation Zone project in Egypt is considered a historic project and provides a model for Chinese-African cooperation in developing the Belt and Road Initiative. “TEDA-Egypt” has achieved comprehensive development and investment intensity. The Chinese companies should expand within Egypt and combine the industrial characteristics of the two countries.” Mr. Xie Yuan declared

“TEDA is a bridge linking the national strategies of China and Egypt. In recent years, this partnership has achieved a development leap. TEDA has a full commitment to creating a first-class investment environment. The Cooperation with Egyptian institutions through TEDA – Egypt shows a vibrant scene, and every successful step achieved cannot be separated from the support provided to the company inside Egypt.” Mr. Qu Defu, Chairman of the Board of Directors of TEDA Holding Company, said.

The delegation made a scouting tour that included the Jushi Factory and the Yanjiang Factory within the scope of the industrial developer TEDA – Egypt. The delegation also visited the Sokhna Port to explore the most important development works aimed at making it a pivotal port on the Red Sea