Egypt's General Authority of the Suez Canal Economic Zone (SCZone) signed on Sunday a usufruct agreement with China's Jiangsu Guotai to establish a ready-made garment factory in the West Qantara Industrial Zone. The project, spanning 21,000 square metres, involves a total investment of $10 million (500 million Egyptian pounds) and is expected to create 2,000 direct jobs. The factory will export its entire production, reinforcing SCZONE's position as a key hub for international manufacturing and trade. SCZone Chairman Walid Gamal El-Din announced progress in attracting global investments, with 15 projects in West Qantara securing $490 million in funding. Spanning over 1.03 million square metres, the projects will create 20,000 jobs, with 80 per cent of production exported to Europe and the Americas via West Port Said. SCZone has laid the foundation stones for five projects, with the first two set to open in H2 2025, aiming to localise industries through integrated clusters, workforce training, and leveraging ports, logistics zones, and free trade agreements to boost global market access. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
