The Suez Canal Economic Zone (SCZone) aims to attract targeted investments in priority industrial sectors and expand co-operation with international financial institutions to finance industrial projects and infrastructure development, SCZone Chairman Moustafa Shaikhon said.
Shaikhon made the remarks during a meeting on Tuesday with a delegation from Shanghai Pudong Development Bank (SPDB), headed by the bank’s Vice-President Cui Bingwen.
The meeting explored opportunities for joint co-operation, investment prospects within the zone and the support and services available to investors.
Shaikhon said SCZone became a preferred destination for global investment, as reflected in growing investment inflows in recent years.
He noted that the authority had refined its strategy to focus on attracting high-value investments in selected industrial sectors that support Egypt’s development plans.
For his part, Cui expressed appreciation for the visit and the opportunity to learn about SCZone’s strategy and development priorities.
He said SPDB was one of Shanghai’s largest financial institutions, with assets exceeding 10 trillion yuan and annual profits of more than 50 billion yuan.
Cui noted that SPDB has overseas branches in Hong Kong, Singapore and London, and is exploring expansion opportunities in the Middle East, Egypt and Africa to benefit from the region’s strategic location.
