Egypt and China initialled a memorandum of understanding on Tuesday to deepen cooperation in developing the Suez Economic and Trade Cooperation Zone (SETC), the Suez Canal Economic Zone (SCZONE) Authority said in a statement. The agreement, signed during a visit by a Chinese delegation led by Vice Commerce Minister Ling Ji, aims to expand investment in the TEDA-managed zone, streamline land allocation and infrastructure procedures, and strengthen industrial supply chains. The SETC, located near the city of Suez, was established under a joint partnership between Cairo and Beijing to attract Chinese manufacturers as part of China's Belt and Road Initiative. Egypt is seeking to draw more foreign investment into manufacturing, logistics, and infrastructure, while positioning the Suez Canal Economic Zone as a regional hub for Chinese companies operating in Africa and the Middle East. Attribution: Amwal Al Ghad English
