Cairo: Chairman of the Suez Canal Economic Zone (SCZONE) Walid Gamal Eddin announced that SCZONE has become an attractive platform for global investments due to its developed infrastructure, integration of ports with industrial zones, and competitive incentives for investors.

According to State Information Service Egypt, SCZONE has successfully attracted investments estimated at 11.6 billion dollars over the past three and a half years, with 50% of these investments originating from China. This highlights the strong economic partnership between SCZONE and China and underscores the significant interest Chinese companies have in the region.

Gamal Eddin made these remarks during a meeting with Si Yong, Director General of China's Jiangsu Provincial Department of Commerce. The meeting focused on industrial and investment cooperation and was held on the sidelines of the Jiangsu-Egypt Economic and Trade Cooperation Conference in Cairo. The conference aims to bolster trade and investment ties between companies from both countries, in line with the "Belt and Road" initiative and Egypt's Vision 2030.

Collaboration within the SCZONE, particularly with the Chinese TEDA Zone, has led to over 200 projects in industrial, service, and logistics sectors, with total investments surpassing 3 billion dollars. Moreover, cooperation in the West Qantara industrial zone with Chinese investments has exceeded 700 million dollars.

Gamal Eddin emphasized SCZONE's readiness to support companies from Jiangsu Province, acknowledging the province's significant economic influence. This aligns with the political leadership's vision in both countries to strengthen economic cooperation and support industry localization.

Si Yong expressed satisfaction with the enhanced cooperation with Egypt and SCZONE, citing the historical relations between the two nations. He highlighted Jiangsu Province's 16 advanced manufacturing sectors and 158 officially approved development zones, noting the growing economic presence of Jiangsu companies in Egypt, with contractual investments amounting to approximately 240 million dollars.