Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), welcomed a delegation from the Jiangsu Federation of Industry and Commerce, led by Vice President Liu Jun, at the authority’s headquarters in the New Administrative Capital. The delegation included executive leaders from the federation, as well as representatives from major companies in the energy, construction, and engineering sectors.
Mohamed Abdel Gawad, Deputy Chairperson of SCZONE for Investment and Promotion, also attended the meeting.
The purpose of the meeting was to explore cooperation opportunities and introduce the delegation to the investment prospects in SCZONE’s targeted sectors, in an effort to attract more companies from Jiangsu, one of China’s leading economic provinces, to invest in the zone.
During the discussions, Gamal El-Din highlighted SCZONE’s success stories with its Chinese partners, which now number over 200 companies across various sectors. Recently, the authority attracted investments exceeding $1.067bn from Chinese firms during a promotional tour in China.
The SCZONE chief also presented the investment opportunities available across the 21 diverse sectors within the zone, spanning industrial and logistical fields. He emphasized the zone’s competitive advantages, including its strategic location that facilitates access to global markets, especially under Egypt’s numerous free trade agreements. Additionally, he pointed out the availability of skilled labour and diverse energy sources at competitive rates. Gamal El-Din noted the potential to build on the existing successes of Chinese investments, especially in light of the strategic partnership between Egypt and China, which has been strengthened by Egypt’s recent inclusion in the BRICS group.
The Jiangsu Federation of Industry and Commerce, also known as the General Chamber of Commerce of Jiangsu, is a non-governmental organization founded by the province’s industrial and commercial community. Established in 1954 as the Jiangsu Chamber of Commerce, it comprises industry and commerce federations in over 1,287 small towns and villages, about 96 cities and counties, and 13 municipalities within the province. The federation also includes 4,277 business associations across Jiangsu, with a membership base of 348,000 companies, groups, and individuals, including 293,000 corporate members.