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Egypt to showcase special Suez Canal industrial zone


08-30-2016 00:46 BJT

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Egypt is planning to showcase its Suez Canal industrial area project to investors during the G20 Summit. The industrial zone is in a prime location, just east of Cairo, and is surrounded by six ports, with links to Asia and Europe, Africa and the Middle East.

As you enter the Suez Canal, it's impossible to miss. Chinese specialist developer TEDA established the economic zone after purchasing the 7-point-34 square kilometre area six years ago. It provides infrastructure for Chinese industries that want to set up shop in Africa.

"There are obstacles to operating in many African countries but, for us, Egypt is a priority investment destination. As this is a special economic zone, the quality of the management and facilities is very good and the levels are improving continuously," Li Daixin, executive director of Teda Egypt, said.

The first phase of the project is already operating. 86 Chinese companies from various industries have invested more than one-point-one billion dollars in the zone, which is a prime location.

"With the Chinese government launching the new China silk road and rail project we are encouraging many companies to invest outside China and to grow and develop here," Li said.

When fully operational in five years, it could boast hundreds of factories, recording annual production output of $8 billion and providing up to 40 thousand job opportunities. It's also going to be environmentally friendly, powered by wind and solar energy.

Egyptian President Abdel Fattah Al Sisi's visit to China for the G20 summit is seen as an ideal opportunity to shed light on Chinese investment in the country.

"We hope that during President Sisi's stay in China, he will visit the city of Tianxin, the industrial zone established in the city, which has been there for the past 30 years," Li said.

But the Chinese economic zone does not only consist of factories. TEDA has provided various services for the residents and their families.

It's fully integrated, and after a long day at work, locals will be able to relax at a four-star hotel, equipped with a pool and entertainment facilities.

Egypt hopes the unique design of this economic zone will be emulated across the rest of the Suez Canal industrial area.

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