Egypt, Hungary discuss ways to boost industrial cooperation

Daily News Egypt

a day ago

Chairperson of the Suez Canal Economic Zone (SCZONE), Walid Gamal El-Din, on Tuesday received Rita Herencsár, Ambassador of Hungary to Cairo, at the Authority's headquarters in Ain Sokhna.
The official visit aimed to explore avenues for cooperation and strengthen economic ties between the two sides. It forms part of SCZONE's ongoing efforts to build partnerships with development allies worldwide, enhance bilateral cooperation with friendly nations in support of sustainable development goals, and consolidate its position as a global industrial and logistics hub. Several senior Authority officials attended the meeting.
Gamal El-Din outlined SCZONE's advantages, including advanced infrastructure, six seaports on the Red Sea and the Mediterranean connected to global supply chains, and four industrial zones ready to host a wide range of industries. He also highlighted direct and indirect financial incentives, sector-specific benefits, competitive energy costs, and the availability of skilled, well-trained labour—factors that make SCZONE an attractive destination for European companies seeking to expand into regional and global markets.
He emphasised the importance of partnership with Hungary, particularly in sectors that add value to the Egyptian economy. He noted SCZONE's interest in localising the automotive industry, expanding data centre projects, and exploring cooperation in railway and electricity-related industries, while leveraging the technological expertise of Central and Eastern European countries. He also reviewed the diverse investments already operating in the zone from various nations.
For her part, Ambassador Herencsár expressed her country's interest in exploring cooperation in manufacturing, exports, infrastructure investment, solar energy, and water management. She also proposed organising meetings between SCZONE's leadership and Hungarian companies interested in investing in the zone and participating in public-private partnership projects, which she said could open new markets for both sides.
Following the meeting, the Hungarian delegation toured several SCZONE projects, including Ecopact for Industrial Development, Elsewedy Watanya, and the National Steel Fabrication Company (NSF). The visit showcased examples of existing international partnerships within the zone and the potential for further industrial integration.
Gamal El-Din had previously led a promotional tour to Hungary in February 2023, holding intensive meetings in Budapest with officials from the Hungarian Export Promotion Agency (HEPA) and representatives of Hungarian companies across various industrial sectors. The visit took place on the sidelines of the 4th Egyptian–Hungarian Joint Committee meetings.