Waleid Gamal El-Dein, Chairperson of the Suez Canal Economic Zone (SCZONE), met with Salih Mutlu Şen, the Turkish Ambassador in Cairo.
The meeting aimed to discuss common issues and enhance bilateral cooperation between the two countries, especially in the economic aspect, which is witnessing increasing momentum.
Gamal El-Dein gave a presentation about the Suez Canal Economic Zone (SCZONE) and the competitive advantages it offers to its investors. He said that the zone has six sea ports on the Red Sea and the Mediterranean and four industrial zones that cover 21 different industrial sectors.
He also pointed out that the zone has many Turkish investments, such as the Hayat Egypt factory that specializes in health products in the integrated area of Ain Sokhna. He said that there are ongoing discussions about the presence of major Turkish textile and clothing companies in the promising Qantara West industrial area, such as Jade Textile, KCG and others.
He said that the presence of these companies reflects the authority’s keenness on supporting its investors in all industrial zones, and its commitment to implementing its strategic vision to localize the industry in the targeted sectors. He also said that the presence of a Turkish industrial zone in the Suez Canal Economic Zone is under discussion.
The Turkish ambassador expressed his admiration for the potential of the Suez Canal Economic Zone and the existing cooperation with the Turkish business community. He expressed his country’s pride in the role that the port of Al-Arish played in delivering aid to Turkey during the devastating earthquake disaster last year.
He also stressed the openness of Turkish companies to strengthen the partnership with the zone, especially in the ready-made clothing and textile industries sector. He added that Egypt has become one of the top investment destinations for his country. He also stressed the importance of cooperation to launch a Ro-Ro line at one of the authority’s ports, which can help enhance trade exchange between the two countries.
The meeting also touched on cooperation in the fields of renewable energy, such as green fuel and the industries that feed it, such as solar panels, as well as the activity of supplying ships with green fuel. It was also proposed during the meeting to establish a vocational training center in the Qantara West industrial area to serve the projects under construction that require intensive trained labor.
