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Egypt TEDA expects to attract $3bn in Suez Canal region Company succeeded in attracting 70 companies with total investments of about $1bn by end-2017, says Liu
Chairperson of the board of China-Africa TEDA Investment Company, Liu Aimin, predicted that the Egypt TEDA investment area will attract investments worth $3bn after the completion of the second phase of the industrial zone northwest of the Gulf of Suez, with a production value reaching $8bn and expected to provide 20,000 jobs. Liu said that Egypt TEDA succeeded in attracting 70 companies to invest in China-Egypt TEDA Suez Economic and Trade Cooperation Zone in the northwest of the Gulf of Suez, including four of the largest Chinese companies. He pointed out that the total investments of 70 companies in the company's investment region amounted to about $1bn by the end of last year, with an annual production volume of $180m. Also, he noted that these companies have imports and exports with a value of $240m and succeeded in creating 3,300 jobs, 90% of them for Egyptians. TEDA designed a children's park, which included Egypt's first "dinosaur park", on a total area of 15,000 sqm, according to Liu.
