SCZONE SIGNED DEAL WITH CHINESE INVESTORS FOR IRON PRODUCTS PROJECTS IN EGYPT

The collaboration between the Suez Canal Economic Zone (SCZONE) and Chinese investors, exemplified by the recent agreement with XinFeng Company, underscores a burgeoning economic partnership. The establishment of a hot-rolled iron coil factory not only signifies significant investment and job creation but also symbolizes a strategic alignment between both parties’ goals.

The presence of high-ranking officials such as Walid Gamal El Din and Ni Yuefeng at the signing ceremony highlights the importance attached to this cooperation. Their discussions on broader collaboration between SCZONE and Hebei Province in areas like industry and logistics signify a commitment to long-term mutual growth.

Gamal El-Din’s appreciation for Chinese investments in various sectors, including the mention of ongoing projects like D.Cita, Henshing, and Hennoway, underscores the depth and breadth of this partnership. The focus on exporting a significant portion of XinFeng’s production and expanding into related sectors aligns with SCZONE’s strategic objectives.

Furthermore, the cooperation extends beyond industrial ventures to maritime and logistics domains, leveraging the strengths of both parties in areas like port development and shipping. The potential for collaboration in traditional automotive industries, new energy, data centers, and green product manufacturing demonstrates a forward-looking approach.

Ni Yuefeng’s positive remarks about Egypt’s economic development trajectory and the parallel drawn between the New Administrative Capital and Hebei’s Xiong’an area indicate a shared vision for progress. The desire to increase Chinese investments in SCZONE underscores confidence in Egypt’s strategic positioning and economic potential.

The XinFeng project and the broader collaboration between SCZONE and Chinese investors will serve as a testament to the efficacy of international partnerships in driving economic growth and realizing shared objectives.

SOURCE: EgyptDaily