SCZone Aims to Attract 1,000 Chinese Companies by 2030, Says Chairman

Walid Gamal El-Din, head of the Suez Canal Economic Zone (SCZone) aims to increase the number of Chinese companies in the zone to reach 1,000 companies by 2030.

This came during his meeting Friday, with a delegation from the Chinese city of Tianjin, inside the industrial developer TEDA.

The Suez Canal Economic Zone stated that the delegation was headed by Deputy Mayor of Tianjin.

The meeting witnessed discussions on building green, low-carbon, modern and smart ports, in addition to completing the successes achieved by the strategic partnership between the Suez Canal zone and the industrial developer TEDA, which is the investment arm of the Chinese city of Tianjin.

During his speech, Walid Gamal El-Din stressed that the close and historical bilateral relations between the two countries and the support of the political leadership were reflected in serious economic cooperation and effective strategic partnership aimed at achieving sustainable economic development.

He added that the success of cooperation with the industrial developer TEDA is the starting point that built bridges of trust between the economic zone and Chinese investments, the fruits of which we see today.

He continued, within two years, the economic zone succeeded in attracting 128 projects worth $6 billion, of which 40% were Chinese investments.