The delegation delivered a comprehensive presentation on the economic zone.
The delegation also reviewed the recent investment incentives issued by the Egyptian government for the automotive and green fuel industries - Press Photo
A delegation from the Egyptian General Authority for the Suez Canal Economic Zone, led by Walid Gamal El-Din, President of the Authority, discussed ways to enhance cooperation with the Indian Industries Federation.
During the meeting, the delegation delivered a comprehensive presentation on the economic zone, highlighting its potential, investment opportunities, incentives, and targeted industrial sectors.
They also showcased the ongoing development projects in the region's ports to bolster their competitiveness in the Red Sea and Mediterranean, particularly those with access to the Red Sea, enabling seamless connectivity between Asian, European, and African markets through the Suez Canal.
The delegation also reviewed the recent investment incentives issued by the Egyptian government for the automotive and green fuel industries. In addition to these incentives, the Suez Canal Economic Zone benefits from international trade agreements that facilitate commercial exchanges.
K. Nandakumar, President of the Indian Industries Federation, expressed his delight in receiving the delegation from the Suez Canal Economic Zone.
He emphasized the historical and strong relations between the two countries, spanning 75 years, as well as the constant cooperation and communication between the Indian Industries Federation and their Egyptian counterparts, including the Egyptian Industries Federation and the Chamber of Commerce Union.
Nandakumar highlighted the Indian Industries Federation's commitment to finding Egyptian partners in various industrial sectors and increasing bilateral trade between the two countries. He acknowledged the significant growth in trade relations during President Abdel Fattah El-Sisi's tenure.
The President of the Indian Industries Federation described Egypt as a vast market that serves as a launching pad for investments into global markets. The federation aspires for the economic zone, through joint cooperation, to become a center for Indian industries and a gateway for Indian products and goods to the African markets, one of the largest consumer markets.
Concluding their visit, the delegation from the Suez Canal Economic Zone, led by Walid Gamal El-Din, departed Mumbai, India, after completing a promotional tour in the cities of New Delhi and Mumbai.
This tour was part of the promotional plan for the current year, aiming to open doors for Asian investments and attract more Indian companies operating in various sectors.
Egypt's Suez Canal Economic Zone has made significant strides in attracting foreign investment and promoting economic growth.
The zone's strategic location and its role as a crucial trade route between Asia, Europe, and Africa have positioned it as a prime destination for international businesses.
The ongoing efforts to enhance cooperation with the Indian Industries Federation further solidify the zone's status as a global economic hub.
With its favorable investment climate and government incentives, Egypt continues to attract foreign investors and foster mutually beneficial partnerships, contributing to its economic development.
