In pictures, the head of the economy of the Shuttle Canal tours with major Chinese companies in the capital, Beijing, to attract foreign investments worth billions of dollars

Fathi Al-Sayeh

Waleed Jamal Al-Din:

Converting the memorandum of understanding for the green hydrogen project into a framework agreement with the company soon *

7 billion dollars in Energy China investments to produce green hydrogen in the integrated Sokhna region. And Energy China, the global Chinese company working in the field of new and renewable energy, to convert it into a framework agreement between the signatories of the memorandum – the Economic Authority, the Sovereign Fund of Egypt, the Egyptian Electricity Transmission and Distribution Company and the New and Renewable Energy Authority soon, after agreeing with the company regarding the establishment of a green hydrogen industrial complex. / Green ammonia within the Sokhna integrated zone in the economic zone.

This came after the meeting of the head of the Suez Canal Economic Zone, Ambassador Assem Hanafi, the Egyptian ambassador to China, and company officials at its headquarters in the Chinese capital, Beijing, within the framework of the promotional tour and the discussions that took place. It is carried out by a Suez Canal Economic Delegation headed by Mr. Walid Gamal El-Din, which includes Captain Mohamed Ibrahim, Assistant to the Chairman of the Authority, Amani Esawy, Advisor to the President of the Authority for International Relations, and Nader Kamel, Investor Relations Officer, to discuss ways of cooperation with Chinese companies in many industrial sectors, as well as standing on developments in cooperation files. With other companies that have investments in the region and are working to expand and increase their investments in Sokhna.

The meeting between the two sides discussed technical axes and implementation mechanisms during the coming period for the company to establish a green hydrogen production project, where the company officials expressed their happiness with the cooperation With the economic zone, Egypt will be one of the company’s launch centers for these industries for the European and African markets, especially after the announcement of the Egyptian state. The memorandum of understanding signed in December 900 for a framework agreement within the next two months to start project procedures on the ground for the green hydrogen industry, indicating that the group is one of the leading international companies working in projects New and renewable energy, especially those concerned with the manufacture of solar panels, wind turbines, etc., and the transition towards a green economy. A specialized one for this type of investment does not conflict or overlap with any other laws, as some incentives have been announced, including land pricing, years of operation for these projects, tax and financial incentives, and others, which confirms the support of the Egyptian state in improving the business climate and setting incentives that would attract investments. In this sector.

It is worth noting that the Suez Canal Economic Zone signed a memorandum of understanding to establish an industrial complex for green hydrogen with Energy China at the end of last year, where an expanded meeting was held for company officials with President Abdel Al-Fattah Al-Sisi, President of the Republic in March 2023, and after the meeting, the company officials inspected the project site in the industrial zone in Sokhna and started preparing the feasibility study and proceeding with the technical and financing procedures for the project and cooperation with the European Bank for Reconstruction And development in this project, as well as the start of negotiations with major companies operating in the manufacture of equipment and machinery of the industrial complex to implement a green fuel project for a major Chinese company with investments of approximately $ 7 billion to produce 1.2 million tons of green ammonia and 435 One thousand tons of green hydrogen annually.

The Suez Canal Economic Zone witnessed the conversion of 9 memorandums of understanding in the field of green hydrogen into framework agreements out of a total of 23 A memorandum signed with major international companies and alliances operating in this sector, to be the tenth China Energy memorandum of its kind during the next month, in addition to Targeting the economic zone to localize some complementary industries feeding green fuel projects such as solar panels, wind turbines, electrolyzers, etc., and maximizing the benefit from the integration of its industrial zones and seaports to serve these projects.

The Suez Canal Economic Zone participates in the meeting of the Federation Polish Chambers of Commerce in the capital, Warsaw*

*During his meeting with representatives of Polish green hydrogen companies..*

*Vice President of the Economic Zone for Investment reviews efforts to localize industries Green Energy*

The General Authority for the Economic Zone of the Suez Canal also participated in the meeting of the Federation of Polish Chambers of Commerce held in the capital, Warsaw, under the coordination of the Egyptian Embassy in Poland and the Commercial Representation Office, and with the participation of a number of Polish companies operating in the renewable energy and fuel sectors. Green, within the framework of strengthening cooperation between the authority and partners in various countries of the world, and to complement the promotional efforts of the authority within its strategy aimed at attracting global investments in the targeted investment sectors, especially the green fuel sector and the industries that feed and complement it.

The meeting was attended by From the side of the Suez Canal Economic Zone, Dr. Ibrahim Abdel-Khalek, Vice President of the Authority for Investment and Promotion Affairs, and Tarek Hashem, Director General of Investment, and from the Polish side: Mr. Jansk Wisniewski, President of the Federation of Polish Chambers of Commerce and Chairman of the Egyptian-Polish Business Council, and Mr. Tomoho Umeda, CEO of Hynfra, a Polish company specialized in green hydrogen industries. Chief among them is the green fuel sector, where the General Authority for the Economic Zone of the Suez Canal signed 23 a different memorandum of understanding; To implement projects to establish industrial complexes with the aim of producing green hydrogen within the industrial zone in Ain Sukhna, and that is between a number of government agencies, represented by the New and Renewable Energy Authority, the Egyptian Company for Electricity Transmission and Distribution, and the Sovereign Fund of Egypt, on the one hand, and between leading global companies and alliances in producing New and renewable energy, on the other hand, referring to the transformation of 9 memorandums of understanding that were signed into framework agreements that will enter into force after the completion of technical and economic studies related to them. The service, which will be launched soon in the integrated East Port Said area of ​​the authority, after the completion of the agreements and technical procedures related to this service. The Authority is looking forward to achieving it in the sectors of clean energy and related industries, and in turn, he confirmed the full readiness of the Authority to receive such industries, especially in light of its competitive advantages with its unique location on both sides of the Suez Canal, as well as its 6 ports that are being developed according to the latest international standards to receive

It is worth noting that Hynfra is a company specializing in semiconductor manufacturing for renewable energy, technology integration and infrastructure construction for hydrogen production and utilization projects. green, and support investors in the maintenance services of technological processes for new green hydrogen facilities as well as services for the sale of green hydrogen and natural oxygen.

*Continuation of the promotional tour in Beijing*

Suez Canal Economic Delegation Meets Manufacturers and Exporters of Textiles and Ready-made Garments *

Walid Gamal El-Din: The economic zone is a promising window for Chinese textile industries towards markets Global*

The delegation of the Suez Canal Economic Zone, headed by Mr. Walid Gamal El Din, Head of the Economic Zone, and members of the Chinese Chamber of Commerce for Exporters and Manufacturers of Textiles and Ready Made Garments, also met this morning, in the presence of the Vice Chairman of the Board of Directors, Mr. Zhang Xi’ an and some officials of companies operating in the textile industries, which manufacture clothes for major brands and export them to the American, French and Japanese commercial markets. Minister Plenipotentiary Ahmed Zaki, Head of the Economic and Commercial Office in Beijing.

During the meeting, Mr. Walid Gamal El-Din made a presentation about the authority to introduce it, and another presentation about the textile industries present in the region. The presentation included talking about one of the successful models in This sector is within the Teda region – Egypt, which is the Fan Yang Textile Manufacturing Factory, which is located on an area of ​​0072 thousand square meters, with a production volume of 30 thousand tons annually, with an investment volume of up to 0031 million dollars, in addition to many other successful factories where Egyptian skilled labor is available at a low cost compared to foreign labor, as well as access to American and European markets under the trade agreements signed by Egypt, as well as easy access to African markets. Through the Belt and Road Initiative, the head of the economic zone also stressed that there are local investors who are fully prepared to participate in Chinese investments within the region.

The meeting also touched on several inquiries from manufacturers and exporters of ready-made garments and textiles, about incentives The investor receives the advantages and facilities within the region and others related to facilities, infrastructure and the availability of treated water, especially since these industries require abundant water use. QIZ, which allows easy access to the American markets, stressing that the facilities provided by the Authority to investors have greatly contributed to accelerating the pace of work, as the economic zone has small factories prepared for immediate operation and placing machines directly inside them, which are Plug & Play models.

Following the presentation of the authority in the Chinese language, the Vice-President of the Chinese Chamber of Commerce praised the efforts of the authority and the projects that took place on the ground, especially the Chinese investments under the umbrella of cooperation between the two countries, stressing the chamber’s endeavor to push Chinese companies working in the field of textiles to work in the economic zone of the Suez Canal. He expressed his aspiration to visit Egypt with a delegation from the Chamber to discuss joint cooperation with the region in this sector.

It is worth noting that the delegation of the Suez Canal Economic Zone is paying a promotional visit to the People’s Republic of China as part of the authority’s plan to open more horizons of cooperation With Chinese investments and the presence of many Chinese success stories during the last period as a result of the partnership between the two sides, where there are more than 137 companies already operating in addition to dozens of Companies that obtained preliminary and final approvals during the fiscal year, as well as cooperation in new fields that the economic zone seeks to localize and Chinese investments seek to expand through the distinguished location of the Suez Canal Economic Zone.

*Complementing the promotional tour in several Chinese provinces*

*The head of the Suez Canal Economic Department meets the head of the China-Africa Development Fund*

*Walid Gamal El-Din: We aim to localize the pharmaceutical industries..and seek more From Chinese-African cooperation and benefiting from the Belt and Road Initiative *

In the framework of completing the intensive activity of the delegation of the Suez Canal Economic Zone in the Chinese capital, Beijing, and several Chinese provinces, starting tomorrow in Tianjin, a working lunch was held in honor of the President The Economic Zone of the Suez Canal, Mr. Walid Gamal El-Din, in the presence of Ambassador Assem Hanafi, Ambassador of Egypt to China, and Minister Plenipotentiary Ahmed Zaki, Head of the Economic and Commercial Bureau, to hold meetings with representatives of the China-Africa Development Fund headed by Mr. Song Lee, Chairman of the China-Africa Development Fund. The Authority’s delegation also met with Mr. Kia Du is a member of the Board of Directors and CEO of Jan & Lee Pharmaceutical Industries, which is one of the largest Chinese companies operating in this industry.

In this context, Mr. Walid Gamal El-Din spoke about the ambitions of the Suez Canal Economic Zone to localize It targets various industrial and service sectors, not only to meet the needs of the local market, but also to meet the needs of the African market. The Economic Zone of the Suez Canal to play the role of economic mediator between the various markets and products, stressing the economic zone’s endeavor for more Chinese-African cooperation to localize the targeted industries, most notably the pharmaceutical industries and their active substance, the automobile industry, green fuel and complementary industries that meet the needs of global and regional markets.

During the meeting with the head of the China-Africa Development Fund, who expressed the Fund’s willingness to finance Chinese projects interested in investing in the economic zone, especially major projects such as: green hydrogen and its complementary industries, as well as informing him of all current and future projects, target sectors and investment incentives that are granted, Pointing out that the Chinese-African Fund for Development has invested in 8 projects inside Egypt, including two projects in (TEDA-Egypt) in the industrial zone in Sokhna, in addition to financing the projects of the Midea company for household electrical appliances in Sokhna, which confirms the capabilities of cooperation between the two sides in achieving progress in the targeted sectors. Therefore, the discussion was held regarding the establishment of an office for a permanent representative of the Fund within the Suez Canal Economic Zone to facilitate the process of financing the projects targeted by the Authority. However, the economic zone is their destination and their next stop, which they see as a promising reality and wish to join it.

On the other hand, Mr. Kia Du, President of Jan & Lee Pharmaceutical Industries, explained that the company produces diabetes drugs and also produces Antibiotics and the active substance of medical drugs and wants to establish such a project within the Suez Canal Economic Zone, and export them to regional markets and meet the needs of the local market, benefiting from the elements that the economic zone possesses that push the expansion of investment in several fields.

Mr. Walid Jamal Al-Din appreciated this kind of cooperation, especially since the pharmaceutical industries receive great attention in the economic zone’s plans according to its strategy for 2020 – 2025