Cairo: Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE) Walid Gamal El-Din announced that the West Qantara Industrial Zone is witnessing significant growth in attracting foreign direct investment, particularly in sectors like textiles, food industries, and logistics. His comments were made during a ceremony held at SCZONE's headquarters in the New Capital, as he presided over the signing of a new textile project agreement with Turkey's Zhejiang Hongda.

According to State Information Service Egypt, the project involves an investment of $20 million and will be set up on a 60,000 square meter plot. It is anticipated to create around 500 direct jobs and aims to export 70 percent of its production. This development is part of a broader strategy to enhance the industrial capabilities of the West Qantara zone.

During the signing ceremony, Gamal El-Din highlighted the rapid expansion of the West Qantara Industrial Zone. The area now hosts 53 operational projects in industrial, service, and logistics sectors, representing a total investment of $1.48 billion. These projects are expected to generate approximately 69,000 direct jobs and cover an area exceeding 3.42 million square meters.