SCZONE: We are keen on cooperation with Chinese firms

The Suez Canal Economic Zone (SCZONE), said Sunday Dr. Ibrahim Abdel-Khalek, Vice chairman of (SCZONE) for Investment and Promotion Affairs, and Mr. Ahmed Saad, SCZONE’s CEO, received a business delegation from Jilin Province of China headed by An Chuan Li, Director of the outward Investment and Economic Cooperation division at the Ministry of Commerce in Jilin Province.

At the beginning of the meeting, Abdel-Khalek welcomed the delegation and affirmed the SCZONE’s keenness to cooperate with the Chinese side, as many success stories already existed on the ground, foremost of which is the Chinese industrial zone, Teda-Egypt, which contains more than 137 industrial and services projects, said SCZONE on its website.

He also explained the efforts of SCZONE for more economic cooperation with Chinese investments, as SCZONE is considered China’s window for many European and African markets, where investors of SCZONE enjoy access to global markets through trade agreements that link Egypt with various countries.

“SCZONE achieves economic integration between the industrial zones and the ports to facilitate the movement of goods to and from the industrial zones and to speed up their arrival to the global and local markets at the lowest cost. Our industrial lands are qualified to receive heavy, light, and medium industries, in addition to financial and non-financial investment incentives and the one-stop-shop service that enables the investors to deal in all procedures and obtain permits with only one party, which is SCZONE.” Abdel-Khalek said.

“We appreciate the full explanation that we heard about SCZONE, which shows the efforts that made SCZONE a promising model for various investments. In Jilin Province, most of the economic institutions operate in the fields of automotive industries, pharmaceuticals, and chemicals, where the province has the largest automotive factory that produces nearly 2 million cars annually to serve the local market and for export purposes to the neighboring countries of China, Russia, and Canada. We also have a great desire to convey the positive image to the Chinese province investors for more cooperation with SCZONE within the industrial developer Teda-Egypt in the fields of automotive manufacturing, cars’ tires, and food industries, due to the desire of investors for further expansion within the African market,” An Chuan Li said

The delegation’s visit comes after the successful promotional tour of the SCZONE delegation to the People’s Republic of China last May, through which several investment agreements were signed between SCZONE and the Chinese side. The Jilin Province delegation is touring the continent of Africa to discuss investment opportunities in Egypt and open new horizons for Chinese investments within the African continent.

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