Wednesday, March 22, 2017

Interview: China largest investor in Egypt's Suez Canal region with earnest, win-win partnership

Xinhua| 2017-03-16 

By Mahmoud Fouly
Ahmed Darwish, chairman of the Suez Canal Economic Zone (SCZone), introduces the SCZone during a press conference in Ain Sokhna, east of capital Cairo, Egypt on March 13, 2017. China is the largest investor in the development of Egypt's Suez Canal Corridor, a mega project showcasing the win-win partnership between the two countries, said Ahmed Darwish, chairman of the Suez Canal Economic Zone (SCZone), in an interview with Xinhua. (Xinhua/Zhao Dingzhe)
SUEZ, Egypt, March 16 (Xinhua) -- China is the largest investor in the development of Egypt's Suez Canal Corridor, a mega project showcasing the win-win partnership between the two countries, said Ahmed Darwish, chairman of the Suez Canal Economic Zone (SCZone), in an interview with Xinhua.
China's TEDA corporation, one of the oldest industrial developers of the region, has seen a steady increase in the number of its development projects and tenant factories since it entered Egypt and established a joint Suez Economic and Trade Cooperation Zone, in the Ain Sokhna district of the Suez Canal Corridor east of capital Cairo.
"Currently, the Chinese investments are the largest. We highly appreciate the earnestness of our Chinese partners. They were among the first to act as an industrial developer in the zone," the SCZone chief told Xinhua. "TEDA has put in place the micro-infrastructure and is re-promoting the land. They are doing an excellent job."
"This partnership is a win-win situation," because TEDA knows best how to promote the zone among Chinese investors while Egypt's trade agreements with African states make it easy for Chinese products to enter African markets without trade barriers or customs, he said.
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