Chinese investors account for half of the $11.6 billion in foreign investment drawn to Egypt's Suez Canal Economic Zone (SCZONE) over the past three and a half years, reflecting Beijing's expanding footprint in the country's industrial and infrastructure sectors. SCZONE Chairman Waleid Gamal El-Dein said the zone has become a magnet for global investment thanks to its advanced infrastructure, integrated ports and industrial areas, and competitive incentives for investors. "Of the $11.6 billion attracted, approximately 50 per cent comes from Chinese companies, reflecting the strength of economic ties between the two countries," he said at the Jiangsu-Egypt Economic and Trade Cooperation Conference in Cairo. Gamal El-Dein highlighted partnerships with China's TEDA zone, which now hosts more than 200 industrial, service, and logistics projects in the SCZONE totalling over $3 billion. Additional Chinese projects in the West Qantara industrial area have exceeded $700 million, he added. Representing the Chinese province, Si Yong, director of the Jiangsu provincial department of commerce, said nearly $240 million has been committed by companies from the region to Egypt, pointing to the province's 16 advanced manufacturing sectors and 158 officially designated development zones. The current cooperation reflects the growing economic footprint of Jiangsu companies in Egypt, he said. The conference also included representatives from the Chinese embassy in Egypt and Egyptian business associations, highlighting ongoing efforts to strengthen international partnerships and promote local industrial development in the Suez Canal Economic Zone. Attribution: Amwal Al Ghad English
