Latest news with #Sokhna
Zawya
3 days 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
4 days 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@
Zawya
14-05-2025
- Business
- Zawya
PM Madbouly inaugurates $60mln expansion of Hayat Egypt factory in Sokhna
Egypt - Prime Minister Mostafa Madbouly inaugurated the $60m expansion of Turkish company Hayat Egypt Hygienic Products, a factory that manufactures tissue paper from nonwoven materials. The expanded facility is located within Orascom Industrial Parks in the Sokhna Industrial Zone, part of the Suez Canal Economic Zone (SCZONE). The Prime Minister praised the SCZONE as a key destination for international investment, citing its strategic geographic location—linked to both the Mediterranean and Red Seas—and its integrated industrial zones connected to ports that enhance global trade and logistics. He also highlighted the state's major infrastructure developments, including national roads and tunnel networks, which have improved access between the eastern and western parts of the zone and supported development in Sinai and Canal cities. Madbouly noted the increasing diversity of foreign investment across various industrial and logistical sectors, all aimed at reaching nearly two billion global consumers. This, he said, is supported by Egypt's wide network of free trade agreements and international partnerships that facilitate export access to multiple markets. During his visit, the Prime Minister toured the facility's production line, including the preparation area, main machine and control room, packaging unit, and final product displays. Officials from Hayat Egypt presented the scope of the new plant, which spans 21,000 square meters and has created approximately 200 direct jobs. The factory's annual production capacity reaches 60,000 tonnes. SCZONE Chairman Walid Gamal El-Din said the expansion reflects the success of ongoing cooperation between Hayat Egypt, the SCZONE, and industrial developer Orascom Industrial Parks. He emphasized the authority's commitment to facilitating investment by supporting developers, port operators, and manufacturers through a comprehensive suite of services. Gamal El-Din also pointed to the SCZONE's continued push to digitize investor services through initiatives such as the one-stop shop and the newly inaugurated logistics center, which streamlines customs procedures and provides integrated investor support. These efforts, he said, align with the authority's broader strategic vision to create a globally competitive, investment-friendly environment backed by both financial and non-financial incentives. The expansion builds on Hayat Egypt's already significant presence in Sokhna. The company operates an existing hygienic products factory within the Orascom Industrial Zones area, spanning 400,000 square meters. That facility has attracted more than EGP 330m in investment and created 450 direct job opportunities. With the newly launched plant, the company's total investments in Egypt now exceed EGP 3.33bn (approximately $60m), and its total workforce has grown to 650 direct employees.
Zawya
08-05-2025
- Business
- Zawya
Egypt: SCZone inks deal for Fotouh AlKuwait's $1.7mln project in Sokhna Industrial Zone
Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZone) and the Main Development Company (MCD) signed an agreement for Fotouh AlKuwait Co's project to produce packaging materials, according to a statement. With investments of $1.7 million (EGP 86 million), the project will span an area of 10,000 square meters in the Sokhna Industrial Zone and will provide 30 job opportunities in its first phase. SCZone's Chairman Waleid Gamal El-Dein highlighted that this project represents a new step toward achieving the authority's goals of attracting valuable investments and implementing industrial projects that contribute to deepening local manufacturing and localizing supply chains in key sectors. He added that the location near Sokhna Port serves the project's objectives of exporting 90% of production. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
08-05-2025
- Business
- Zawya
Fotouh Al-Kuwait to build packaging factory in Egypt's Sokhna Industrial Zone
Egypt - Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), attended the signing ceremony for the Fotouh Al-Kuwait project, which will see the establishment of a packaging materials factory within the Sokhna Industrial Zone. The facility will span 10,000 square meters and involve an investment of $1.7m (approximately EGP 86m). The agreement was signed by Walid Yousef, Managing Director of the Main Development Company (MDC)—the primary developer within SCZONE—and Ahmed Fathi, Director of Fotouh Al-Kuwait. Gamal El-Din stated that the project aligns with SCZONE's strategy to attract value-added investments and implement industrial ventures that enhance local manufacturing capabilities and localize supply chains in strategic sectors. He emphasized that partnering with investors who bring both expertise and a developmental vision reinforces confidence in SCZONE's position as a leading regional hub for industry and logistics. He also noted that the factory's proximity to Sokhna Port will support its target of exporting 90% of its output. SCZONE, he added, continues to strengthen its attractiveness to investors through modern infrastructure, tailored incentives, and integration with Egypt's evolving transportation and port systems. Fotouh Al-Kuwait International, an Egyptian-Kuwaiti joint venture with over 18 years of experience in consumer goods distribution, is implementing the Sokhna project in partnership with a Chinese company specializing in packaging technologies. The factory is expected to create 30 jobs in its initial phase.
