SCZONE chief welcomes high-level Chinese textile delegation
The visit comes as part of ongoing cooperation between Egypt's Commercial Representation Authority and SCZONE to attract foreign direct investment, particularly in high-potential industrial sectors. The meeting was also attended by senior SCZONE executives.
Gamal El-Din presented a comprehensive overview of the SCZONE's industrial zones and their competitive advantages for international investors. He underscored the strategic importance of the textile and garment sector in SCZONE's development plans, citing its role in promoting vertical integration and expanding local manufacturing capabilities—from spinning and weaving to finished products.
He highlighted that the outcomes of SCZONE's recent promotional roadshow in China reflected growing investor confidence in Egypt's economic prospects and industrial ecosystem. As a result, dedicated zones—particularly Qantara West—have been allocated to support the textile industry. This zone currently hosts 21 Chinese projects in spinning and weaving, reinforcing its position as a regional hub for the sector.
Additionally, the Ain Sokhna industrial zone is home to 18 companies operating in textile and apparel manufacturing. Gamal El-Din attributed the region's appeal to its robust infrastructure, streamlined regulatory services, investment incentives, competitive energy costs, and availability of skilled labor.
Li Xin expressed his appreciation for the warm welcome and emphasized the delegation's goal of exploring available opportunities within SCZONE's industrial zones. He commended SCZONE's reputation among Chinese investors, particularly its efficient 'one-stop shop' services that simplify investment procedures.
'There is growing interest among Chinese textile and apparel firms in expanding operations in Egypt,' Li said, noting the importance of aligning Chinese manufacturing capacity with Egypt's strategic location and industrial infrastructure.
This visit follows a successful SCZONE promotional tour in China, during which the Authority engaged with key stakeholders across multiple cities to promote Egypt as a prime investment destination for the textile and garment industry.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mid East Info
2 hours ago
- Mid East Info
28,000 beneficiaries from 85 awareness activities conducted by the Federal Tax Authority across all UAE emirates during the first half of this year
FTA continues plans to support the objectives of the second cycle of the Zero Government Bureaucracy Programme Abu Dhabi,August 2025: The Federal Tax Authority FTA has reaffirmed its continued efforts to enhance and diversify its awareness campaigns and communication channels to effectively reach all stakeholders involved in tax implementation. This aims to strengthen engagement with taxpayers and beneficiaries across all emirates of the UAE, while highlighting the Authority's continuously expanding range of services. The FTA stated that over the past year and the first half of the current year, several innovative campaigns, programmes, and activities have been launched to meet the tax awareness needs of the business community and various segments of Emirati society. The FTA announced that it conducted 85 awareness activities during the first half of 2025, benefiting 28,000 participants, marking a 21% increase compared to 70 activities held during the same period in 2024. The increased number of workshops aims to ensure there are no gaps in tax-related knowledge. According to the Authority, 53 virtual events were conducted in the first half of 2025, compared to 43 in the same period in 2024, while 24 in-person events were held, down slightly from 27 events during the first half of last year. The FTA confirmed that it continues to advance its plans in support of the second cycle of the Zero Government Bureaucracy Programme. These efforts are focused on enhancing digital integration with relevant authorities, continuously improving users' digital experiences. The Authority also explained that its awareness activities including its Customer Councils, which are held across all emirates focus on organising consultative sessions and dialogues with representatives from the business community and stakeholders. These sessions are designed to gather input and suggestions regarding the FTA's initiatives and projects aimed at reducing unnecessary tax procedures, eliminating repetitive or redundant requirements, enhancing government integration, promoting data sharing. Zahra Al Dahmani, Director of Taxpayer Services at the FTA, stated: 'As part of our ongoing efforts to diversify awareness tools and communication channels in line with current needs, we continue to engage the business community by incorporating their ideas and suggestions into the FTA's sustainable development plans. These efforts are aimed at maintaining the highest levels of efficiency, quality, and flexibility while simplifying and streamlining procedures.' She added: 'The FTA has launched new awareness campaigns and programmes to introduce its services and initiatives and has continued to expand its core awareness activities. Key initiatives introduced include the 'Tax Talks' workshops, which benefited 72 participants through three sessions; two workshops on 'Tax Certificates', which served 1,330 participants; six workshops on the 'EmaraTax' digital tax services platform, which attracted 2,044 participants; and two workshops on 'Tax Updates', with 1,824 participants during the first half of 2025.' Al Dahmani emphasised that the FTA's awareness efforts highlight the ongoing legislative and procedural developments in the tax system, as well as the various digital transformation projects launched by the Authority. These projects aim to accelerate service delivery, reduce paper-based processes, minimise documentation requirements, and provide more accessible and efficient services all with the goal of delivering tangible results in a short timeframe. About Federal Tax Authority: The Federal Tax Authority was established under Federal Decree-Law No. (13) of 2016 with the aim of supporting the UAE's strategy to diversify the national economy and increase non-oil revenues. The FTA is responsible for the administration and collection of federal taxes based on international best practices and standards. Since its inception in 2017, the FTA has worked in collaboration with competent authorities to build a comprehensive and balanced tax system, making the UAE one of the first countries in the world to implement a fully electronic tax system that encourages voluntary compliance. The system offers streamlined procedures from registration to filing tax returns and paying due taxes through the Authority's website:
See - Sada Elbalad
20 hours ago
- See - Sada Elbalad
Which Products Could Get More Expensive under Trump's New Tariff Hikes?
Taarek Refaat The new round of tariffs, set to take effect next week, will immediately push up the cost of many imported goods from affected countries, with U.S. consumers likely to feel the impact in their wallets. While some companies have tried to absorb part of the costs, rising import duties may now force them to pass more of the burden onto customers. Here's what could get more expensive: Computers and Electronics Computers are among the most imported goods in the U.S., according to the Department of Commerce, with top suppliers including China, Mexico, Taiwan, Vietnam, and Malaysia. Chinese imports already face tariffs starting at 30%, which could rise further if no trade deal is reached by August 12. Imports from Taiwan, Vietnam, and Malaysia will see duties roughly double from current levels next week. India, while not a top-five supplier of computers, is a major source of electronics and will face tariffs of at least 25%. Prices for computers have already risen 5% year-on-year as of June, according to the Consumer Price Index. Yale University's Budget Lab estimates the new tariffs could drive electronics prices up 18.2% in the short term (2–3 years) and 7.7% in the long term (3–10 years). Clothing The U.S. heavily relies on imports for apparel, with China, Vietnam, Bangladesh, India, and Indonesia as major suppliers. Tariffs on these countries could raise clothing prices by 37.5% in the short term and 17.4% in the long term, adding pressure on households. Watches Swiss watches, worth over $4 billion in U.S. imports last year, are set to face 'reciprocal' tariffs of 39%. Leather goods, often tied to watch production, could see price hikes of 39.7% short term and 18.9% long term. Footwear China, Vietnam, and Indonesia dominate U.S. shoe imports, which will be hit with at least a 19% tariff starting next week. Leather-based products in this category could see similar price hikes to watches. Alcohol Imported wine and spirits account for around 35% of the U.S. alcohol market, according to the Wine & Spirits Wholesalers of America (WSWA). Tariffs on European Union imports — a key source of whiskey, vodka, and wine — will rise from 10% to 15%. Furniture Vietnam is the largest furniture supplier to the U.S., followed by China. The new tariffs are expected to lift import costs across this sector as well. Toys China and Vietnam lead U.S. toy exports. Industry groups warn that tariffs will increase retail prices, particularly as duties on Vietnamese goods add to existing levies on Chinese products. When Will Consumers Feel the Pinch? Many U.S. companies have stockpiled inventory in anticipation of higher import costs, delaying the immediate impact on retail prices. Goldman Sachs analysts estimate it could take roughly eight months for the full effect of tariffs to filter through to consumer prices. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results
See - Sada Elbalad
3 days ago
- See - Sada Elbalad
SCZone Chief Lays Foundation for Two New Chinese Textile Projects Worth $55 Million
Taarek Refaat Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone (SCZone) witnessed the groundbreaking ceremony for two new Chinese textile projects in the industrial developer 'TEDA–Egypt' zone in Ain Sokhna, marking a fresh wave of foreign investment into Egypt's manufacturing sector. The projects, with combined investments exceeding $55 million, are set to create hundreds of direct and indirect jobs, while strengthening Egypt's presence in global textile supply chains. The first project, led by Bridge-Tex, involves the construction of a fully integrated textile complex on a 40,000-square-meter plot. With an investment of over $25 million, the facility will house 18 spinning lines, more than 100 fabric production lines, and six printing and dyeing lines. Once fully operational, the plant is expected to produce 25 million meters of high-quality fabrics and 105,000 tons of fibers annually, generating around 500 direct jobs and 1,000 indirect jobs. The second project, developed by F-TEX International, will be built on 55,000 square meters with 60 production lines for drawn textured polyester yarn (DTY). The $30 million facility is projected to reach full operational capacity by late 2027, with an annual production target of 130,000 tons and 400 direct jobs, contributing an estimated $150 million in annual export revenues. Gamal El-Din emphasized that these projects reflect growing international investor confidence in the SCZONE and the success of the partnership with TEDA–Egypt. He highlighted ongoing talks with Chinese partners to allocate an additional 10 km² for industrial development, following the near-completion of earlier expansion phases. 'These projects will not only add significant value to the local economy and create jobs, but also enhance Egypt's industrial integration and global supply chain competitiveness,' Gamal El-Din said, noting that SCZONE attracted $8.6 billion in investments across 297 projects over the past three years, including $4.4 billion in the last fiscal year alone. Representatives from both companies highlighted the export-oriented nature of the projects, with 80% of output destined for U.S. and European markets. Bridge-Tex expects annual sales of $120 million, with $100 million in foreign currency inflows, while F-TEX executives framed the project as a symbol of Sino-Egyptian textile cooperation, combining Chinese technology with Egyptian labor to achieve sustainable growth. The two projects are expected to boost Egypt's textile exports, potentially helping the country surpass $10 billion in annual textile export revenues, according to company statements. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results
