Suez Canal economy .. prospective projects in the TEDA region – Egypt, Chinese investments of about $5 billion, and 5,000 job opportunities

Fathi Al-Sayeh

Within the framework of coordination and continuous communication between the economic zone To the Suez Canal and its partners in the industrial zones, to follow up the works, inspect the existing projects, and work to remove and resolve any obstacles that some of the investors may face, Major General Walid Youssef, Vice President of the Authority for the Southern Region, and Dr. Chinese in Sokhna to follow up on the latest business developments for existing and under construction projects, where they met Mr. / Zhang Yixiang, Executive Director of the Chinese TEDA Company, Assistant Executive Director and General Manager of the company, Ms. / Nahla Emad, CEO of TEDA-Egypt for Economic Zone Development, and Mr. / Ahmed Radwan, CEO of TEDA TEDA – Misr Investment.

During the meeting, the two sides discussed joint cooperation during the coming period. And mechanisms to attract more Chinese investments to the region, especially after expansions and new production lines that have been added to some of the already existing factories, which indicates the success of Chinese investments in the economic zone. The meeting also discussed some outstanding issues and follow-up on some problems facing some investors, especially after The current global and political changes that affected global supply chains and others.

For his part, the Vice President of the Economic Commission for the Southern Region emphasized The Authority’s support and assistance to development and success partners, and that the Authority’s management is working to add more investment incentives to attract the largest possible amount of investments in the industrial sectors targeted for localization and to meet the needs of the local and regional markets, indicating the Authority’s interest in attracting international Chinese models such as the Jushi fiberglass factory, which It is the fourth in the world in this industry and owns a giant industrial edifice within the industrial zone in Sokhna.

In the same context, the Vice President agreed with him The Authority for Investment, Promotion and Confirmation Affairs The Authority’s support for its partners from industrial developers and investors, whether local or foreign, pointing to the strong trade and economic relations between Egypt and China, and working to support Chinese projects and attract more of them because of the special elements that the economic zone enjoys as part of the Belt and Road initiative, which would facilitate the transportation of goods between The initiative countries are from and to China. And investors, for approval in accordance with the regulations of the Authority, as the committee will discuss during this week one of the Chinese projects that the Teda region is working to attract, and then follow the procedures in approving it, including projects for feather industries for units of wind power generation equipment as well as steel industries, curtain walls and others, as well as The region announced during the coming period the start of operating the largest Chinese factory for the manufacture of electrical appliances used in more than 70 countries around the world to be exported to foreign markets from the economic zone. The meeting also discussed some innovative projects It is intended to be established, which is based on some ongoing negotiations with TEDA-Egypt for various industrial sectors in modern building materials and others, whose projects are being established for the first time in Egypt, with a total targeted investment of 5 billion US dollars, and the creation of no less than 5,000 direct and indirect job opportunities. For Egyptians.