Egypt - The Suez Canal Bank has signed a cooperation protocol with the Chinese company TEDA, an industrial developer in the economic zone of Ain Sokhna, to support the investment capabilities in the Suez Canal Economic Zone (SCZone), and to open new horizons for aspects of joint cooperation for existing and new investors in the economic zone of the Canal.

The protocol was signed by Hussein Refaey, Chairperson and Managing Director of the Suez Canal Bank, and Leo Emin, Chairperson of TEDA Holding.

This protocol is an extension of cooperation and success between the two parties and a consolidation of that historical relationship between them, in conjunction with the Chinese company TEDA’s success near completion in attracting new Chinese investments to the region in the range of $5bn during the coming period.

Hussein Refaey stressed the importance of joint cooperation between TEDA and the Suez Canal Bank, pointing out that the bank attaches great importance to the economic zone of the canal, and contributes to overcoming any obstacles or obstacles related to Chinese companies operating in the region.

He added that the bank is not only supportive of foreign investments in the region, but also considers itself a strategic partner with TEDA for the success of the economic zone.

Al-Haytham Al-Qobrosly, Senior General Manager and Head of the Credit and Corporate Finance Sector at Suez Canal Bank, stressed the necessity of exploiting the successful historical relationship between TEDA and the Suez Canal Bank. On top of this success comes the mutual trust between the group of companies and the work team at Suez Canal Bank, which contributed to achieving joint successes and integration.

He added that the bank’s role will not be limited to providing banking services only, but will also provide full support to investors, whether by providing consultancy and banking services or studying the financing of their needs.

On the sidelines of signing the protocol, Refaey and Emin visited a number of new factories operating in the region in Ain Sokhna.

The Suez Canal Bank signed last March a memorandum of understanding with the General Authority for the Economic Zone of the Suez Canal, regarding cooperation and participation in negotiations with financing institutions to finance small and medium projects and business incubators in the affiliated industrial zones.

© 2022 Daily News Egypt. Provided by SyndiGate Media Inc. (