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Arab Finance: Chairman of the Suez Canal Economic Zone (SCZONE) Waleid Gamal El-Dien met with Eritrean President Isaias Afwerki and his accompanying delegation to discuss investment opportunities, areas of mutual interest, and prospects for economic cooperation between Egypt and Eritrea, as per a statement.
During the meeting, Gamal El-Dien highlighted the zone's strategic location on both sides of the Suez Canal, its access to global markets through international trade agreements, and the integration between its industrial zones and ports on the Mediterranean and Red Seas.
He also pointed to the availability of skilled labor, investor services through the authority's one-stop-shop model, and advanced infrastructure. According to Gamal El-Din, these advantages have helped the SCZONE attract more than US$16 billion in investments over the past four years.
The Eritrean delegation later toured the integrated Sokhna area, including Sokhna Port and a number of factories operating in renewable energy, chemicals, building materials, healthcare products, and heavy industries.
During the tour, Gamal El-Dien outlined the authority's strategy to localize industries in sectors including ports and logistics, automotive manufacturing, data centers, and green fuels. He noted that the SCZONE is working to position itself as a global hub for the production and supply of green fuel for ships amid growing demand for renewable energy.
Gamal El-Dien said the SCZONE plays a key role in supporting global trade and economic development across Africa, adding that Egypt's political and economic stability continues to support the authority's growth plans.
