This came within the framework of El-Din's anticipated participation in the China-Egypt Zhejiang Economic Forum in Cairo tomorrow, which is scheduled for Thursday, April 18.
The Suez Canal Economic Zone (SCZONE) succeeded in securing about $894 million from investments since January 2024 until now, of which 40% are Chinese, Walid Gamal El-Din, Chairman of SCZon, said during his meeting with the trade delegation of Zhejiang Province of China.
This came within the framework of El-Din's anticipated participation in the China-Egypt Zhejiang Economic Forum in Cairo tomorrow, which is scheduled for Thursday, April 18.
The purpose of this forum is to address the progress of ongoing projects and explore additional collaborations with Chinese companies.
China’s Zhejiang Province has investments in Egypt amounting to $1.132 billion, including the fields of textiles, oil, gas, and plastic products, according to a statement by Chen Zhicheng, Deputy Director General of the Department of Commerce of Zhejiang Province.
The chairman of SCZONE confirmed that the authority can support Chinese investments through integration between 6 seaports on the Red Sea and the Mediterranean Sea, and 4 industrial zones equipped with robust infrastructure with international specifications.
Earlier in March, El-Din disclosed that the total number of contracts in the SCZone amounted to 127 projects, with an investment of about $2.8 billion, during the period from July 2023 to March 21, 2024.
Out of these projects, 61 successfully obtained final approvals, with foreign investments amounting to 49%. While, initial approvals were granted to 66 projects, with a foreign investment rate of 39%.
