During the period spanning from July 2023 to April 2024, the Suez Canal Economic Zone (SCZone) successfully signed contracts for 144 projects, resulting in investments worth $3.2 billion.

Out of these projects, 67 have obtained final approvals, while 77 have secured initial approvals. This significant announcement was made by the Chairman of SCZone, Walid Gamal El-Din, during a meeting with Prime Minister Mostafa Madbouly.

El-Din further highlighted that the projects will create over 25,000 direct and indirect job opportunities upon completion of their establishment and operation.

Additionally, the Chairman of SCZone provided insights into the Chinese TEDA investments within the economic zone. There are 42 ongoing projects, and 12 projects under construction awaiting an operating license.

 Furthermore, there are 40 projects in the final stages of completing the necessary procedures to obtain a building license.

In terms of green hydrogen projects, noteworthy progress has been made. Between January 1, 2024, and April 30, 2024, a total of 12 framework agreements and 6 memorandums of understanding have been successfully signed.

Furthermore, preparations are underway to sign an additional memorandum of understanding in this domain.