Walid Gamal El-Din, the Chairperson of the Suez Canal Economic Zone (SCZone), has met a delegation of the American Chamber of Commerce (AmCham) in Cairo to discuss the agency’s investment opportunities.
The discussion was organized by the Transportation and Logistics Committee at the AmCham.
Gamal El-Din gave a presentation on the SCZone that highlighted the region’s current capabilities, components, legislative readiness, infrastructure and a network of facilities that qualify it to attract more diversified investments. The integration of industrial zones with seaports included in the economic zone, which contributed in facilitating the movement of trade internally and externally, stressed the importance of this integration in paving the way for green fuel projects.
He further presented investment incentives, technical manpower qualification, and the targeted industrial and service sectors, in addition to the localization of green fuel industry, for which many memorandums of understanding were signed, amounting to 23 memorandums of understanding, and recently 9 of them were converted into framework agreements to start these projects and implement them according to targeted timetables.
He disclosed that areas allocated for green fuel projects amounted to 20m sqm in the industrial zone in Ain Sokhna, after it was 13 kilometers, due to the increased demand for these projects within the SCZone.
The presentation included the international trade agreements that the SCZone is working on, which would benefit investors.
Gamal El-Din noted that the number of industrial and service establishments reached 300 industrial and service establishments, which would increase in the coming period to achieve the authority’s vision and mission in economic development, in addition to offering investment opportunities and industrial sectors for Technology Valley projects east of Ismailia next year for investors and companies.
For her part, Chairperson of Transport and Logistics Committee at the AmCham, Abeer Lahita, stated that the SCZone is characterized by a global geographical location, which made it a center for the production of green fuel in Egypt, which helped attract many industries and made it a destination to attract various investments.
