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SCZone successfully attracts 128 projects worth US$6 billion within two years

The Suez Canal Economic Zone (SCZone) in two years has successfully attracted 128 projects worth six billion dollars, of which Chinese investments represent 40 percent.

The Chairman of the General Authority of the  SCZone Walid Gamal-Eddin said that it was the fruitful cooperation with industrial developer TEDA-Egypt that served as the starting point that built bridges of trust between the SCZone and Chinese investors.

He added that this success extends through the expansions of the Industrial Developer – TEDA, which the authority is working to support, to attract more investments.

During a meeting with a high-level delegation from the Chinese city of Tianjin, headed by Vice Mayor Xie Yuan, Gamal-Eddin discussed economic cooperation and the exchange of experience between the ports of Ain Sokhna and Tianjin.

Both sides also discussed building modern, smart, green, low-carbon ports, in addition to completing the successes achieved by the strategic partnership between the SCZone and the Industrial Developer – TEDA, which is the investment arm of the Chinese city of Tianjin.

The close bilateral relations between the two countries and the support of the political leadership was reflected in the  serious economic cooperation and effective strategic partnership aimed at achieving sustainable economic development, he added.

Gamal-Eddin noted that there is a “legitimate ambition” for Chinese companies in the economic zone to reach 1,000 companies by 2030.

Gamal-Eddin and Xie were present for the signing of a land allocation contract between TEDA-Egypt and Shen Jin Company for Textile Products, Printing and Dyeing, to establish a project on an area of 20,000 square meters with a total investment of 5.5 million dollars.

A land allocation contract was also signed between TEDA – Egypt and Shengyuan Construction Engineering Co., Ltd., to establish a project on an area of 15.86 thousand square meters with a total investment of four million dollars.

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