Egypt's Suez Canal Economic Zone (SCZone) launched its first international investment promotion tour for fiscal year 2025/26 with a visit to China, targeting key sectors including electric vehicles (EVs), textiles, and logistics, the authority said Monday. Leading the delegation, SCZone Chairman Waleid Gamal El-Dien met with senior officials from major Chinese firms such as Crystal International Group, electric vehicle giant BYD, Hutchison Ports, and authorities from the Qianhai Special Economic Zone and Yantian International Container Terminals in Shenzhen. The tour aims to attract foreign direct investment to Egypt's strategic economic zone, which boasts access to Red Sea and Mediterranean ports, preferential trade agreements, and integrated industrial infrastructure. In talks with Crystal International Group, one of the world's largest apparel producers, SCZone offered 1.5 million square metres in Qantara West for a potential $300 million textile factory, which could employ up to 35,000 workers. The company, which exports globally for major brands, is exploring full-scale export manufacturing from Egypt. Later, Gamal El-Dien toured Shenzhen's Qianhai development zone and addressed a business forum highlighting Egypt's investment incentives, skilled labor force, and low-cost energy. "We look forward to deepening our partnership with Chinese investors, especially in EVs, ports, and garments," he said. The delegation also met with Hutchison Ports, operator of the soon-to-open $250 million terminal at Sokhna Port, to discuss expanding logistics cooperation. A site visit to Yantian International Container Terminal, one of the busiest in China, underscored Egypt's ambition to strengthen its role in global supply chains. Rounding off the day, the SCZone team visited BYD headquarters to pitch Egypt as a regional base for EV manufacturing, including car batteries and solar panels. Talks with senior BYD officials explored opportunities to establish a presence in SCZone to serve African and Middle Eastern markets. Gamal El-Dien emphasised that Egypt's strategic location and pro-investment climate offer Chinese firms a competitive edge in scaling up regional production and meeting global climate goals. The China roadshow is part of SCZone's broader strategy to position itself as a hub for green industry and global trade, attracting partners in future-focused sectors through targeted outreach. Attribution: Amwal Al Ghad English
