Egypt’s SCZONE signs $117.5m new Chinese investment deals – Chairman

Egypt’s General Authority for the Suez Canal Economic Zone (SCZONE) has recently signed six new contracts with Chinese investors in the garments and textiles sector worth $117.5 million, Chairman Waleid Gamal El Dein said.

The announcement came during a meeting with Prime Minister Moustafa Madbouly on Tuesday to review the authority’s latest investment activities and financial performance.

Gamal El Dein presented a report on his recent investment promotion tour in several Chinese provinces from 21 to 25 July, which aimed to attract foreign direct investment in industries such as renewable energy and logistics.

He further reported that SCZONE generated EGP 11.425 billion in revenue during fiscal year 2024/2025, with a surplus of EGP 8.487 billion.

Promotional efforts since FY 2022/2023 have led to $8.6 billion in actual investments across 297 projects, including $7.09 billion in industrial, services, and logistics and $1.5 billion in port developments.

Gamal El Dein highlighted progress in Sokhna and West Qantara zones, where international companies have launched projects in new energy, electronics, pharmaceuticals, and auto parts.

In West Qantara, 31 projects spanning 2 million square metres are underway, totalling $799 million in investment and expected to create 45,000 jobs.

In East Ismailia industrial area (Tech. Valley), the authority aims to establish a knowledge-based urban centre focused on high-tech industries. New foreign investments worth $43 million have been secured in silica mining and advanced construction materials.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama