Chairman of the General Authority for the Suez Canal Economic Zone (SCZone), Mostafa Sheikhoun, on Thursday held major talks with a visiting delegation from the China Development Bank (CDB), led by Chairman Huang Zhiqiang, at the authority’s headquarters in the New Capital.
The meeting aimed to boost economic and investment co-operation and support various development projects within the economic zone. A number of senior officials from both sidesattended.
As the meeting started Sheikhoun outlined SCZone’s role in promoting global trade and investment, highlighting its strategic location as a link between the world’s continents and the free-trade agreements Egypt has concluded with various countries.
These advantages provide access to markets representing more than 3.5 billion consumers, he said.
The SCZone chief also highlighted the integration between the authority’s industrial zones and ports, noting that the zone seeks to localise industrial and logistics activities across 21 sectors.
Key areas include renewable energy and green fuel industries, pharmaceuticals and active pharmaceutical ingredients, textiles and ready-made garments, as well as logistics activities and maritime port services.
Sheikhoun added that SCZone attaches great importance to deepening the strategic partnership between Egypt and China, describing the economic zone as Egypt’s leading platform for attracting global investment.
Co-operation with the China Development Bank could open up broad prospects for expanding the partnership into various fields, particularly investment projects within SCZone, and the development of infrastructure and utilities to meet growing investor demand, he stressed.
For his part, CDB Chairman Huang Zhiqiang highly appreciated the opportunity to gain first-hand insight into SCZone and its targeted industrial and logistics sectors. He also lauded the zone’s role in supporting Chinese companies operating across various fields.
The bank has an extensive client base within China’s business community and expressed its readiness to promote SCZoneand its projects among its clients, he said.
The CDB chief pointed out that the bank’s role extends beyond providing various financing services to include specialised technical consultancy and in-depth economic studies.
