Latest news with #SCZONE
Zawya
37 minutes ago
- Business
- Zawya
Egypt: SCZONE inaugurates Beltone Leasing, Factoring branch at Sokhna headquarters
Egypt - The General Authority of the Suez Canal Economic Zone (SCZONE) has officially inaugurated a new branch of Beltone Leasing and Factoring at its headquarters in the Sokhna Industrial Zone. The ceremony was attended by Ahmed Saad, CEO of SCZONE, and Amir Ghannam, Deputy Head of Non-Banking Financial Institutions (NBFIs) for Leasing, Factoring, and Consumer Finance. Beltone Leasing and Factoring, a wholly owned subsidiary of Beltone Holding, received approval from the Financial Regulatory Authority (FRA) to establish operations at SCZONE, making it the first non-banking financial institution to do so. This strategic move underscores the growing role of SCZONE as a hub for industrial investment, international trade, and regional logistics. Waleid Gamal El-Dien, Chairperson of SCZONE, described the inauguration as a significant step toward enhancing the zone's investment environment. 'The opening of Beltone Leasing and Factoring's branch within our Sokhna headquarters marks a qualitative leap in providing specialized financial services that facilitate effective financing and investment solutions,' he said. 'It supports our broader strategy to build an integrated financial infrastructure that meets the expanding needs of industrial and logistics activities. SCZONE remains committed to attracting leading financial institutions to its industrial zones to reinforce a dynamic and supportive investment climate.' Amir Ghannam emphasized the broader economic impact of the new branch, noting: 'This step opens new avenues for financing industrial projects and supporting strategic export activities, thereby contributing to national economic development goals.' The launch of Beltone Leasing and Factoring's Sokhna branch is aligned with SCZONE's ongoing efforts to strengthen its service ecosystem for investors. These include the implementation of a one-stop-shop service, the digital transformation of investor services, and the presence of banking institutions and integrated logistical and industrial support. Together, these initiatives aim to streamline procedures, enhance operational efficiency, and align SCZONE's services with international best practices in investment facilitation.
Zawya
17 hours ago
- Business
- Zawya
SCZONE inaugurated Beltone Leasing and Factoring branch at Sokhna headquarters
Sokhna – Mr. Ahmed Saad, CEO of The General Authority of the Suez Canal Economic Zone (SCZONE) and Mr. Amir Ghannam, Deputy Head of NBFIs for Leasing, Factoring, and Consumer Finance, inaugurated the new branch of Beltone Leasing and Factoring, a wholly owned subsidiary of Beltone Holding, located within SCZONE's headquarters in the Sokhna Industrial Zone. The branch opening follows the company's approval from the Financial Regulatory Authority (FRA). This strategic expansion positions Beltone Leasing and Factoring as the first non-banking financial institution to commence operations in the SCZONE, one of Egypt's most prominent economic growth engines and a vital gateway for industrial investment, global trade, and regional logistics. "The opening of Beltone Leasing and Factoring's branch within our headquarters in Sokhna is a qualitative step towards enhancing the business environment within SCZONE by providing specialized financial services that facilitate effective financing and investment solutions for investors. This move is part of SCZONE's broader strategy to establish an integrated financial infrastructure that keeps pace with the growing needs of industrial and logistics activities. We continue to attract major financial entities to our industrial zones, reaffirming our commitment to creating a stimulating investment climate that support investments and investors, drives sustainable development, and supports the national economy." Mr. Waleid Gamal El-Dien, Chairman of SCZONE, declared. Mr. Amir Ghannam, Deputy Head of NBFIs for Leasing, Factoring, and Consumer Finance, commented: "We are proud to be the first leasing and factoring company to begin operations within the SCZone to finance investors. This step opens new avenues for financing industrial projects and strategic export activities, thereby contributing to economic development and supporting national growth objectives." It is noteworthy that the opening of Beltone Leasing and Factoring's branch at SCZONE's headquarters in Sokhna aligns with its ongoing efforts to enhance the services ecosystem offered to investors. These efforts include the one-stop-shop service, digital transformation of investor services, presence of various banks, and the integration of industrial and logistical support services within SCZONE, all of which simplify access to services and provide an investor-friendly environment that enables efficiency, accelerates execution, and aligns with global best practices in investment facilitation. About The General Authority for the Suez Canal Economic Zone (SCZONE) The General Authority for the Suez Canal Economic Zone (SCZONE) was established by a decree from H.E. President Abdel Fattah El-Sisi in 2015 as an autonomous body with full executive and regulatory powers. SCZONE oversees a total area of 455 square kilometers and is fully empowered to approve regulatory decisions, propose investment incentives, supervise operations, manage staffing and budgeting, secure funding, develop partnerships, and provide comprehensive business facilitation services. SCZONE comprises four key industrial zones (East Port Said, East Ismailia, Qantara West, and Sokhna) integrated with six strategic seaports (East Port Said Port, West Port Said Port, Al-Arish Port, Sokhna Port, Adabiya Port, and Al-Tor Port). Together, they form a fully integrated industrial and logistics ecosystem. Strategically located at the crossroads of Africa, Asia, and Europe, and directly overlooking the Suez Canal (one of the world's most vital maritime routes), SCZONE is a central hub for global supply chains and international trade flows. SCZONE fosters an investor-friendly business environment that serves as a cornerstone of Egypt's national development strategy. It not only attracts new investments but also enables existing investors to grow and expand, ultimately creating sustainable job opportunities and driving economic development. It targets several high-potential sectors, including heavy and light industries, renewable energy and green hydrogen, logistics services, and information technology. All within a comprehensive vision that positions Egypt as a leading global industrial and logistics hub. For more information, please visit SCZone website: SCZONE – General Authority for Suez Canal Economic Zone Follow SCZONE on: LinkedIn: Instagram: Facebook: X: YouTube: About Beltone Leasing and Factoring: Beltone Leasing and Factoring, a subsidiary of Beltone Holding, specializes in providing leasing and factoring solutions and services. The Company holds a leading position in the Egyptian leasing and factoring market, owing to its strong contribution to delivering innovative financial solutions to small and medium-sized enterprises as well as large companies across strategic sectors. These sectors include real estate development, logistics support services, transportation, healthcare, education, pharmaceuticals, food and beverages, printing and packaging, chemicals, and oil. About Beltone Holding: Beltone Holding (Egyptian Stock Exchange Code: is a leading provider of financial services with a distinguished track record spanning decades in the Middle East and North Africa. The Company offers a comprehensive and expanding range of financial solutions and services, including securities brokerage, underwriting and advisory services, asset management, research, and direct investment, as well as non-banking financial services such as leasing, factoring, consumer finance, venture capital, microfinance, real estate finance, and small and medium-sized enterprise (SME) financing. The company has an ambitious vision to revolutionize the financial sector in the region, leveraging the global expertise and knowledge of its team to provide innovative, value-added solutions, create additional opportunities for its clients, enhance market value, and achieve impactful results. For more information, please visit the company's website: Investor Relations: ir@
Al-Ahram Weekly
3 days ago
- Business
- Al-Ahram Weekly
Opportunities for Chinese investments - Economy - Al-Ahram Weekly
A delegation from Egypt is set to visit China next month following last week's visit of a Chinese investment delegation to Egypt A delegation from the Suez Canal Economic Zone (SCZONE) is scheduled to visit China next month to promote the industrial opportunities available in the SCZONE, Mustafa Ibrahim, vice chair of the China-Egypt Relations Committee at the Egyptian Businessmen's Association (EBA), told Al-Ahram Weekly. The visit is part of ongoing efforts to boost Chinese investments in Egypt. Wang Weizhong, governor of Guangdong Province in China, was also in Cairo last week with a delegation representing Chinese government agencies and Chinese companies interested in investing in the Egyptian market. The delegation also included representatives from Chinese companies already operating in Egypt. Some 2,800 Chinese companies currently operate in Egypt, with total investments exceeding $8 billion, according to the General Authority for Investment and Free Zones (GAFI). Ibrahim expects Chinese investments to reach $12 billion by the end of 2025. The Chinese delegation explored investment opportunities in various sectors, including electric vehicles. The visit aimed to support the Chinese government's Belt and Road Initiative and to study investment opportunities in the Egyptian market. China plans to move many of its factories abroad due to its commitment to reduce carbon emissions by 2026 and to avoid obstacles that could affect its exports to various countries, including members of the European Union, Ibrahim explained. China is also keen on redirecting its labour force towards high value-added industrial sectors such as the technology industry, in which it has outperformed many of its competitors, he added. Chinese companies are interested in investing across several sectors in Egypt, including textiles, ready-made garments, electrical appliances, the automotive industry, and natural gas exploration. Ibrahim said that China has moved into a new era, transitioning from product imitation to innovation, which has made countries like Germany eager to learn about the technologies used in Chinese robots, for example. China is seeking partners with whom it can strengthen its ties, and Egypt stands out with its large market and trade agreements with many other countries that enable access to nearly three billion consumers, Ibrahim said. He noted that over the past year and a half visits from Chinese delegations have taken a new and more serious turn, with provincial governors and leaders from the ruling party heading the delegations. Chinese investors are also planning to invest in new sectors, including tourism and the establishment of hotels and are currently studying investment opportunities in that field. Ibrahim said that cooperation between Egypt and China takes three main forms, with China exporting production inputs and finished products to Egypt, undertaking projects managed by Chinese companies for implementation in Egypt, and injecting direct investments into the Egyptian economy. He stressed the need for consistent laws and a stable economy to attract foreign investors, making the investment climate more appealing. Ahmed Mounir Ezzeddin, chair of the China-Egypt Relations Committee at the Egyptian Businessmen's Association (EBA), told the Weekly that Egypt's infrastructural development, both in terms of urban expansion and power networks, has opened the door for the establishment of large and medium-sized factories and has encouraged various investments, including those from China. China's only industrial city on the African continent is in Egypt in the shape of the China-Egypt TEDA Suez Economic and Trade Cooperation Zone on the shores of the Red Sea and south of the Suez Canal. This started on an area of three million square metres and has now expanded to 10 million, reflecting Egypt's importance to Chinese investors. Ezzeddin said that Egypt possesses several factors that attract Chinese investments, such as the new investment law, an improved business environment and a competitive labour force, in addition to competitive electricity and fuel prices. He highlighted that recent measures to regulate the import of finished products have encouraged Chinese investors to inject capital into the home appliance sector, aligning with Egypt's goal to provide competitively priced locally produced products for both domestic consumption and export. * A version of this article appears in print in the 29 May, 2025 edition of Al-Ahram Weekly Follow us on: Facebook Instagram Whatsapp Short link:
Daily News Egypt
6 days ago
- 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.
Zawya
21-05-2025
- Business
- Zawya
China's Hightex to establish $17mln textile project in Qantara West
Arab Finance: The Suez Canal Economic Zone (SCZONE) signed a contract with Hangzhou Hightex Co. Ltd, a China-based textile products manufacturer, to develop a project within the Qantara West Industrial Zone, according to a statement. The project will be built on 65,000 square meters, with an investment cost of $17 million (EGP 851.7 million). The fully self-financed project will provide around 300 direct job opportunities. It aims to produce more than 20 million meters of fabric annually, allocating the entire production for export. Following this agreement, the total number of contracted projects in the Qantara West Industrial Zone reached 20 projects, with total investments amounting to $596.5 million. Waleid Gamal El-Dein, Chairman of SCZONE, pointed out that these projects offer more than 27,600 direct jobs. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
