Vice-Chairperson of the Suez Canal Economic Zone (SCZone) for the Southern Sector, Mohamed Shaaban, received on Sunday a delegation of Korean companies who showed interest in identifying investment opportunities in the economic zone and the incentives offered to companies within the region.
Shaaban gave a presentation on the SCZone, its regulatory and investment structure, the most important facilities it provides to investors and developers, and the autonomy enjoyed by the region through its board of directors.
Alaa Abdel Karim, advisor to the SCZone chairperson for taxes and customs, presented a detailed explanation on financial and non-financial incentives and trade agreements that facilitate the arrival of products to many countries of the world and give them a preferential advantage.
The visit of the delegation of Korean companies comes within the framework of the Egyptian-Korean Business Council’s meeting held in Cairo recently, in which the SZone participated along with the Ministers of Investment and International Cooperation, Finance, and Industry, as well as the Korean ambassador in Cairo.
In a related context, the SCZone will open technical envelopes of bidders in a tender to establish guard towers and raise security walls surrounding El Tour Port to activate the customs zone in the port, next Wednesday.
A source in the SCZone told Daily News Egypt that five offers were received from Egyptian companies in the tender. It is scheduled to complete the technical and financial evaluation of the bids and decide on the best offer before the end of December. The project’s contract is planned to be signed in mid-January 2020.
The source pointed out that another tender was launched for the inauguration of a sewage treatment plant with a capacity of 500 cubic metres. The SCZone is also preparing a tender for a water desalination plant in the northern region of the economic zone.
