Arab Finance: Egypt signed contracts to establish three new industrial projects in the Suez Canal Economic Zone (SCZONE), with a total investment of $1.15 billion, the zone announced on December 23rd.

These projects are expected to create around 5,400 direct job opportunities.

The agreements were signed in the presence of Mostafa Madbouly and cover the development of three industrial complexes in diverse sectors within the TEDA-Egypt industrial developer in the Sokhna Industrial Zone.

The contracts were concluded between TEDA-Egypt and three Chinese companies: Xin Feng Ming Group, Chaoyang Langma Tire, and Tongling Jieya Biotechnology.

Madbouly said the three projects reflect the growing confidence of major international companies in Egypt’s investment climate, particularly within industrial and export-oriented zones.

For his part, Waleid Gamal El-Dien, Chairman of the SCZONE, said the newly signed contracts bring the total investments attracted by the zone to about $5.1 billion during the first half (H1) of the current fiscal year (FY) 2025/2026, up from $4.6 billion in the same period of a FY earlier.

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