Latest news with #GeneralAuthorityfortheSuezCanalEconomicZone
Daily News Egypt
27-05-2025
- Business
- Daily News Egypt
SCZONE positions itself as strategic global investment hub amid global challenges
Waleid Gamal El-Din, Chairperson of the General Authority for the Suez Canal Economic Zone (SCZONE), emphasized the zone's growing role as a global investment destination during a roundtable held as part of the Egypt–US Economic Forum in Cairo. The event aimed to enhance trade and investment cooperation between Egypt and the United States. Titled 'The Economic Zone as an Investment Destination,' the roundtable was moderated by Marwan El Sammak, board member of the American Chamber of Commerce, and included key contributions from Samir Mubarak, CEO of NAFAZ International, alongside US business leaders and SCZONE executives. In his remarks, Gamal El-Din outlined SCZONE's integrated development model, which links industrial zones to key ports on the Red Sea and Mediterranean. This strategic connectivity, combined with Egypt's extensive network of free trade agreements, positions the zone as a gateway for global trade and a fully integrated hub for industry and logistics. 'SCZONE offers a real solution for global investors seeking stability, opportunity, and access to international markets amid today's economic and geopolitical headwinds,' Gamal El-Din said. He highlighted the zone's competitive advantages, including a strategic location at the crossroads of major trade routes, abundant and accessible energy resources, and a cost-effective, skilled labor force supported by specialized training centers. The Chairperson also underscored SCZONE's commitment to deepening its engagement with American investors. He pointed to high-potential sectors such as pharmaceuticals and active pharmaceutical ingredients (APIs), advanced technology industries including data centers and electronics manufacturing, and a wide range of logistics and service-based opportunities that support global supply chains. During an interactive Q&A session, Gamal El-Din addressed investor inquiries regarding the structure and specialization of the zone's industrial areas. He explained that each zone is tailored to specific industries, guided by detailed technical, marketing, and feasibility studies. This approach has helped identify 21 priority sectors across industrial, logistical, and service domains. He further explained that SCZONE's ports and industrial zones are strategically aligned to support targeted export markets, offering investors customized solutions based on their sector and regional objectives. In response to questions on workforce development, Gamal El-Din noted the presence of multiple training centers and technical academies offering globally benchmarked curricula. He also mentioned ongoing efforts to establish additional facilities—particularly in labor-intensive areas like Qantara West—where demand for skilled workers is expected to grow significantly. 'By combining strategic infrastructure with tailored workforce development and sector-focused planning, SCZONE is building an environment where international businesses can thrive,' Gamal El-Din concluded.
Arabian Post
05-05-2025
- Business
- Arabian Post
Strategic Deal Boosts Trade at East Port Said Hub
AD Ports Group and the General Authority for the Suez Canal Economic Zone have entered into a significant partnership to develop a state-of-the-art industrial and logistics park at East Port Said, positioned strategically on the Mediterranean coast. The deal, formalised with a 50-year renewable usufruct agreement, is set to transform the region into a global trade and industrial hub, enhancing Egypt's role in the international trade landscape. The industrial park, spanning 20 square kilometres, will be located near the Egyptian city of Port Said, right at the entrance to the Suez Canal. This prime location offers a unique opportunity to establish a critical node for the East-West trade routes. The Suez Canal, already a vital passage for global maritime trade, is expected to see increased economic activity with the development of the new park. The agreement was signed in Cairo in a ceremony attended by key figures from both the UAE and Egypt. Dr. Mostafa Madbouly, Egypt's Prime Minister, was present to oversee the occasion, which also saw notable ministers and officials in attendance, including Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, and Lieutenant General Engineer Kamel Al Wazir, Egypt's Deputy Prime Minister for Industrial Affairs and Minister of Industry and Transport. From the business side, Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, and Mr. Waleid Gamal El-Dien, Chairman of SCZONE, were also among those involved in the proceedings. This agreement marks a milestone in Egypt's ongoing efforts to attract investment into its industrial and logistics sectors. By developing the East Port Said Industrial Zone, both countries are tapping into the immense potential for trade and industry in the region. The new industrial park aims to provide a wide range of services, from manufacturing and assembly to warehousing and distribution, tailored to serve both regional and global markets. See also US and Saudi Arabia to Advance Civil Nuclear Cooperation The development of the KEZAD East Port Said Industrial and Logistics Zone is expected to offer numerous advantages. Chief among these is its proximity to the Suez Canal, which connects the Mediterranean Sea to the Red Sea, making it a critical gateway for goods moving between Europe, Asia, and the Middle East. This location is anticipated to drive trade growth and improve logistics efficiency, benefitting international companies looking to establish a presence in the region. The park will leverage the existing infrastructure in Port Said, including its deep-water port and transport links, to support the smooth flow of goods and services. The project is poised to attract multinational companies, as it offers easy access to one of the world's busiest trade routes. The emphasis on advanced technology and industrial processes will further strengthen Egypt's competitive edge in the global market. This development is not just an economic opportunity for Egypt but also an important step in strengthening ties between the UAE and Egypt. The UAE, through AD Ports Group, has long been a key player in global logistics and infrastructure development, and this partnership builds upon their growing presence in Egypt. The collaboration aims to attract investments, create job opportunities, and support Egypt's vision for economic diversification. In addition to its strategic location, the park is designed to cater to the evolving needs of industries that are integral to Egypt's economic future, such as manufacturing, technology, and logistics. The project is expected to facilitate the integration of advanced technologies in the industrial sector, allowing companies operating in the park to benefit from cutting-edge facilities and services. This will further cement the area's status as a key investment destination for both domestic and international investors. See also Lebanon Eyes IMF Deal After Long Struggle for Stability As the agreement paves the way for large-scale development, it is also expected to foster innovation and the adoption of sustainable practices in the industrial and logistics sectors. The emphasis on sustainability aligns with global trends towards greener industrial practices and further boosts the appeal of East Port Said as a forward-thinking industrial hub. With a long-term focus on growth and development, the agreement also outlines provisions for the renewal of the usufruct, ensuring that the project remains viable and adaptable over the decades. This long-term commitment is a testament to the confidence both AD Ports Group and SCZONE have in the potential of the East Port Said region and its capacity to drive forward Egypt's economic ambitions. The involvement of high-profile figures, including government ministers and ambassadors, underlines the significance of the deal, not only for Egypt but also for the broader region. It reflects a shared vision between Egypt and the UAE to strengthen economic ties, increase trade, and improve infrastructure. This cooperation also supports broader regional stability and economic growth, with the East Port Said development serving as a symbol of the growing partnerships between the UAE and Egypt.
See - Sada Elbalad
04-05-2025
- Business
- See - Sada Elbalad
SCZone Attracts Investments worth $8.3 Billion in 3 Years
Taarek Refaat Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone (SCZone) confirmed the authority's success in attracting investments worth $8.3 billion over the past three years. This came on the sidelines of concluding final contracts with Abu Dhabi Ports to develop a 20 million square meter industrial zone in East Port Said. Gamal El-Din also explained that the number of companies established in the economic zone has reached 387, with diverse foreign investments and the presence of a large number of Asian, European, and Middle Eastern countries. He noted that the authority has already succeeded in attracting international companies to establish projects in light of the industrial localization plan, such as new and renewable energy, electronics, pharmaceuticals, automotive components and spare parts, metal components, and other promising fields. Gamal El-Din continued: "Cooperation with the group will pave the way for strong partnerships that will open new horizons for the Abu Dhabi Ports Group's business." He emphasized that the ports of the Suez Canal Economic Zone are currently witnessing unprecedented development in their infrastructure, whether in terms of deepening quays, automating services, or enhancing their operational capabilities, in line with the highest international standards. 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 Egypt confirms denial of airspace access to US B-52 bombers Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
Middle East
04-05-2025
- Business
- Middle East
OPEN// Egypt, UAE sign 50-year agreement to develop Kezad East Port Said industrial zone
CAIRO, May 4 (MENA) - Prime Minister Mostafa Madbouli witnessed Sunday the signing of an agreement for the development of the 'Kezad East Port Said' zone, an industrial and logistics hub to be established through a partnership between Egypt's General Authority for the Suez Canal Economic Zone (SCZone) and Abu Dhabi Ports Group. The agreement grants Abu Dhabi Ports a 50-year renewable usufruct right to develop and operate the 20-square-kilometer zone near the Mediterranean city of Port Said. The project is expected to enhance global trade flows between the East and the West by leveraging the zone's strategic location at the northern entrance of the Suez Canal. The signing ceremony took place in Cairo and was attended by senior officials from both countries, including Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el Wazir, Minister of Electricity and Renewable Energy Mahmoud Esmat, UAE Minister of Industry and Advanced Technology Sultan Al Jaber, UAE Minister of Investment Mohamed Al Suwaidi, SCZone Chairman Walid Gamal El-Din, and Abu Dhabi Ports CEO Mohamed Juma Al Shamisi. Under the deal, Abu Dhabi Ports will lead the development, construction, financing, and management of the industrial and logistics zone in multiple phases. The first phase, covering 2.8 square kilometers, is set to begin by the end of 2025, with an initial investment of $120 million earmarked for technical and market studies and infrastructure development. A 1.5-kilometer berth, potentially housing a multipurpose cargo terminal, is also planned. SCZone Chairman Walid Gamal El Din described the project as a strategic milestone in deepening the longstanding partnership between Egypt and the UAE. He emphasized the zone's potential to support global supply chains, citing its unique location, advanced infrastructure, and integration with East Port Said Port, one of the most operationally ready deep-water ports in the Mediterranean. 'The agreement reflects the success of our integrated development model, which connects industrial areas with maritime ports, and reinforces SCZone's role as a key hub for international manufacturing and logistics,' said Gamal El-Din. For his part, Abu Dhabi Ports CEO Mohamed Juma Al Shamisi described the Kezad East Port Said project as a cornerstone of the group's expansion strategy in Egypt. This strategic cooperation underscores the strong economic ties between our nations. It will drive long-term economic growth, strengthen the Suez Canal's global role, and expand trade between East and West, he said. Abu Dhabi Ports' Regional CEO Ahmed Al Mutawa said the project would help attract foreign investment, boost exports, generate job opportunities, and accelerate technology transfer. In a related development, Abu Dhabi Ports signed a memorandum of understanding with Hassan Allam Holding, a key development partner in Egypt, to explore further collaboration in port development and logistics zones, especially in East Port Said and other strategic locations across the country. In December 2024, Abu Dhabi Ports had appointed Hassan Allam Construction to develop infrastructure at Safaga Port on the Red Sea coast. The project followed a 2023 concession agreement with Egypt's Red Sea Ports Authority to build and operate the $200 million multipurpose Safaga Terminal, the first of its kind serving Upper Egypt. (MENA) M S H/R E E
Zawya
30-04-2025
- Business
- Zawya
Egypt: SCZone pens $25mln contract with India's Willow Ferro to build metal plant in Sinai
Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZone) has signed a $25 million contract with Indian firm Willow Ferro to establish a metal industries project in the Technology Valley, located east of Ismailia in Sinai, as per a statement. The factory will occupy 40,000 sazaquare meters and is expected to produce 36,000 tons annually of silicon manganese, while creating 120 direct jobs. The project will initially start operations with the production of ferrosilicon and ferrochrome. This marks the third finalized contract for a project in the Technology Valley, raising total investments in the area to $42 million across 135,000 square meters and generating 770 direct jobs. SCZone's Chairman Waleid Gamal El-Dein emphasized that the authority is actively working to attract global investment to East Ismailia, benefiting from its proximity to the new city of Ismailia and access to three ports in Sinai: East Port Said, Arish, and El-Tor. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
