Arab Finance: The General Authority for Suez Canal Economic Zone (SCZONE) has lured $894 million worth of investments since the beginning of 2024, 40% of which were Chinese, the authority’s Chairman Waleid Gamal El-Dein stated in a meeting with a delegation from China’s Zhejiang Provincial Department of Commerce.

This meeting paves the way for the China-Egypt Zhejiang Forum to take place on April 18th, with the aim of probing cooperation opportunities and implementing ongoing projects.

Gamal El-Dein emphasized that the Suez Canal is capable of backing Chinese investments through integrating six seaports across the Red Seas and the Mediterranean and four industrial zones equipped with global-standard infrastructure.

For his part, Zhejiang Provincial Department of Commerce’s Deputy Director Chen Zhicheng noted that the province’s investments in Egypt have reached $1.132 billion.


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