SCZONE receives a trade delegation from the Chinese province of Zhejiang to discuss aspects of cooperation

Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), received at SCZONE’s headquarters in the New Administrative Capital, the trade delegation of Zhejiang Province of China, headed by Mr. Chen Zhicheng, Deputy Director General of Department of Commerce of Zhejiang Province. The delegation included officials of Hangzhou Iron and Steel Group, Zhejiang Machinery and Electrical Group, China Export & Credit Insurance Corporation Zhejiang Branch, Zhejiang China Commodities City Group, Windey Energy Technology Group, Zhejiang Investment Promotion Center, Zhejiang Academy of Commerce, and representatives of Department of Commerce of Zhejiang Province and Zhejiang Provincial Development and Reform Commission.

This meeting comes in preparation for Mr. Waleid Gamal El-Dien’s attendance at the “China-Egypt” Zhejiang Economic Forum in Cairo tomorrow, Thursday, April 18, to discuss the implementation of the existing projects and the opportunities for the future cooperation with major Chinese provincial companies, as Zhejiang represent the highest income in a Chinese province after Beijing and Shanghai.

“We are glad to have you at our headquarters, as we visited Zhejiang province during the promotional tour in China last year. We also cherish the Egyptian-Chinese distinguished relationship that carries several common visions on political and economic aspects, which is reflected in the great cooperation between SCZONE and the Chinese investments, as SCZONE has succeeded since January 2024 until now in attracting investments amounting to about $894 million, of which Chinese investments represent 40%. this is the evidence of the present mutual trust, and the more future opportunities for cooperation in the fields of energy production, automotive industries, and other industrial and service sectors targeted by SCZONE.” Mr. Waleid Gamal El-Dien declared.

“SCZONE can support Chinese investments through integration between 6 seaports on the Red Sea and the Mediterranean Sea, and 4 industrial zones equipped with robust infrastructure with international specifications, in addition to being a major and influential player in the world’s supply chains, and enjoying free trade agreements that guarantee access to various global markets, as well as the availability of different energy resources.” Mr. Waleid Gamal El-Dien added.

“We are happy for this warm reception, as our two countries enjoy distinguished economic relations, especially Zhejiang Province, which has investments in Egypt amounting to $1.132 billion, including the fields of textiles, oil, gas, and plastic products. We are looking forward to the SCZONE delegation’s visit to the Chinese province of Zhejiang to hold more meetings with companies wishing to invest in Egypt. This meeting is a prelude to more investments, especially since Egypt is one of the first countries to join the Belt and Road Initiative.” Mr. Chen Zhicheng said.