CAIRO, Dec 27 (NNN-MENA) – Egypt’s General Authority of the Suez Canal Economic Zone (SCZone), said yesterday that, it received investments worth 1.85 billion U.S. dollars in the past six months.
Waleid Gamal El-Dein, chairman of the SCZone General Authority, was quoted as saying in a statement, issued by the Egyptian Cabinet that, 89 investment projects have received final and initial approval from the SCZone since July 1.
Among them, 47 projects received final approval with a total investment of 941 million dollars, while 42 projects received initial approval with an estimated total investment of 908 million dollars, El-Dein said.
Nine Chinese projects were among those that received final approvals, he said, adding that, the Chinese projects cover areas such as carpet manufacturing, textile printing, manufacturing household appliances, establishing a private customs warehouse, ready-made clothing, and accessories.
The projects that received initial approvals include six projects for Chinese companies in the fields of manufacturing electrical appliances, manufacturing household products and cooking tools, extracting and separating minerals from black sand, and manufacturing various textiles.
Established in Aug, 2015, the SCZone, covering an area of 461 square km along the banks of the Suez Canal, is home to six ports and four development areas.
The SCZone aims to attract domestic and foreign investors, by providing logistic and industrial services in accordance with international criteria.
According to the General Authority of SCZone, the zone attracted 2.5 billion U.S. dollars of foreign investment from July, 2022 to May, 2023.– NNN-MENA
