SCZONE will have expected cooperation with the Hungarian investors for its targeted industries

Mr. Waleid Gamal El-Dien, chairman of the Suez Canal economic zone (SCZONE), met some representatives of Hungarian companies in various industrial sectors. The meetings were held on the sidelines of his participation in the Fourth Egyptian-Hungarian Joint Committee, held in the Hungarian capital, Budapest. SCZONE’s Chairman demonstrated the investment opportunities in the presence of the Hungarian Minister of Foreign Affairs and Trade, the Egyptian Minister of International Cooperation, Egypt’s ambassador to Hungary, and several investors and businessmen. He discussed the investment opportunities and targeted industrial sectors to be located within the ports and industrial zones affiliated with SCZONE. He also explained SCZONE’s role in Egypt’s strategy to localize some industries to meet the needs of the local, regional, and global markets, especially in the fields of car manufacturing and green fuel.

Participation in this forum aims at promoting investment opportunities and exchanging experiences in the targeted industries, as well as presenting investment incentives to the investors. SCZONE is trying to facilitate the establishment of projects in ports or affiliated zones with various incentives.

Mr. Waleid Gamal El-Dien, chairman of SCZONE declared.

After the forum, SCZONE’s chairman met with representatives of companies operating in multiple industries to discuss means of expected cooperation between the two sides. He met representatives of a company operating in the stainless-steel industries that are used in some hospitals and medical supplies, as SCZONE targets pharmaceutical as well as complementary industries.

He also met representatives of Hungarian companies working in the industries that feed and complement cars, transport vehicles, and tractors, which expressed their desire to know more about the industrial zone in East Port Said, especially the industrial complex for the automotive industry.

The Egyptian government announced the strategy for the automotive industry from East Port Said, as it targets to localize this industry as well as the complementary industries to meet the needs of the local and regional market

Gamal El-Dien stated

On the other hand, he discussed means of cooperation with a representative of the Hungarian company operating in the manufacture of high-capacity electric generators, which some countries tend to manufacture intensively to meet the needs and requirements of the markets.