Since January 2024, the Suez Canal Economic Zone (SCZONE) has secured approximately $894 million in investments. Chinese investments make up 40 percent of this total.<\/p>\n
During a meeting with the trade delegation from China’s Zhejiang Province, SCZone Chairman Walid Gamal El-Din revealed these figures.<\/p>\n
The meeting took place in anticipation of El-Din’s participation in the China-Egypt Zhejiang Economic Forum, scheduled for April 18 in Cairo.<\/p>\n
The objective of the forum is to review the progress of existing projects and explore further collaborations with Chinese companies.<\/p>\n
China\u2019s Zhejiang Province has invested around $1.132 billion in Egypt, with interests spanning textiles, oil, gas, and plastic products, according to a statement by Chen Zhicheng, Deputy Director General of the Department of Commerce of Zhejiang Province.<\/p>\n
El-Din emphasized that the SCZone can support Chinese investments by integrating six seaports along the Red Sea and the Mediterranean Sea and four industrial zones equipped with state-of-the-art infrastructure conforming to international standards.<\/p>\n
In a previous disclosure made in March, El-Din shared that the SCZone had a total of 127 projects under contract, amounting to an investment of approximately $2.8 billion. This figure covers the period between July 2023 and March 2024.<\/p>\n
Among these projects, 61 received final approvals and had a foreign investment share of 49 percent. Additionally, initial approvals were granted to 66 projects, with a foreign investment rate of 39 percent.<\/p>\n
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Egypt Today<\/p>","protected":false},"excerpt":{"rendered":"
Since January 2024, the Suez Canal Economic Zone (SCZONE) has secured approximately $894 million in investments. Chinese investments make up 40 percent of this total. During a meeting with the […]<\/p>","protected":false},"author":1,"featured_media":4603,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49,48],"tags":[],"class_list":["post-4595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-news"],"yoast_head":"\n