Egypt, Turkey explore new avenues of co-operation
The CEO of the Suez Canal Economic Zone (SCZone), Walid Gamal El-Din, highlighted to the Turkish Ambassador in Cairo, Salih Mutlu Şen, the competitive benefits for investors in the SCZone, according to an Egyptian Cabinet statement on Tuesday.
Gamal El-Din mentioned that the SCZone boasted six seaports on the Red Sea and the Mediterranean and four industrial zones encompassing 21 diverse industrial sectors.
He further highlighted that the SCZone hosts numerous Turkish investments, including Hayat Egypt factory, which specialises in health products and is located in the integrated Sokhna area.
He also mentioned ongoing discussions about major Turkish textile and clothing companies, such as Jade Textile and KCG, setting up operations in the promising West Qantara industrial zone.
Furthermore, Gamal El-Din noted that talks were in progress about establishing a Turkish industrial zone within the SCZone.
Ambassador Şen, for his part, confirmed that Turkish companies are eager to enhance their partnership with the SCZone, particularly in the ready-made clothing and textile industries. He recognised Egypt as a key investment destination in these sectors, emphasising the importance of launching a Ro-Ro line at one of the authority’s ports to boost trade between the two countries.
The meeting also tackled collaborations in renewable energy sectors, including green fuel and its related industries like solar panels. It reviewed the possibility of providing green fuel for ships. It further proposed setting up a vocational training centre in West Qantara industrial zone. This centre would support ongoing projects that need skilled labour trained in the latest production technologies.
