Vice-chairman of the Suez Canal Economic Zone (SCZone) for Investment and Promotion Affairs, Ibrahim Abdel Khalek, and CEO of the SCZone, Ahmed Saad, received on Sunday a business delegation from Jilin Province of China to discuss cooperation.
The Chinese delegation was headed by An Chuan Li, director of the Outward Investment and Economic Cooperation Division at the Ministry of Commerce in Jilin.
The SCZone, Abdel-Khaleksaid, is keen on enhancing cooperation with China.
“Many success stories have already happened on the ground, foremost of which is the Chinese Industrial Zone,” Abdel-Khalek said.
He added that the zone contains over 137 industrial and service projects.
He explained the efforts made by the SCZoneto advance cooperation with China.
TheSCZone, he said, is China’s window into many European and African markets.
Abdel-Khalek said zone investors enjoy access to global markets through trade agreements that link Egypt with various countries.
“The SCZone achieves economic integration between the industrial zones and the ports, something that facilitates the movement of goods to and from the industrial zones and speed up their arrival to the global and local markets at the lowest cost,” Abdel-Khalek said.
“Our industrial lands are qualified to receive heavy, light, and medium industries,” he added.
Abdel-Khalek referred to financial and non-financial investment incentives offered by the zone to investors.
He also mentioned the one-stop-shop service that enables investors to deal in all procedures and obtain permits with only one party, namely the SCZone.
The Chinese official appreciated, meanwhile, the explanation made by Abdel-Khalek about theSCZone.
“It shows the efforts that made the SCZonea promising model for various investments,” he said.
He added that in Jilin Province, most economic institutions operate in the fields of automotive industries, pharmaceuticals, and chemicals.
The province, he added, has the largest automotive factory that produces nearly 2 million cars annually to serve the local market and for export purposes to the neighbouring countries, including Russia and Canada.
“We also have a great desire to convey a positive image to the Chinese province investors for more cooperation with the SCZone within the industrial developer Teda-Egypt in the fields of automotive manufacturing, cars’ tires, and food industries,” he said.
He referred to the presence of a desire among Chinese investors for further expansion within the African market.
