Zhan Chuyan, a spokesman for the Chinese embassy in Cairo, confirmed that China’s TEDA zone in the Suez Canal Economic Zone is a model project that has attracted the best companies to invest in the region.
Today, the Suez Canal Economic Zone celebrated the 50th anniversary of Egyptian-Chinese relations and the 15th anniversary of the establishment of China’s Teda Industrial Zone within the Suez Canal Economic Zone.
On the sidelines of the celebration, the Chinese Ambassador noted that the TEDA territory covers an area of 4 kilometers, and the investment that has been invested in this area amounted to 1.6 billion dollars and managed to create 5,000 jobs, which is one of the most important cooperation projects between Egypt and China.
While the head of the China Chamber of Commerce in Egypt (Chang Weicai) indicated that Egypt’s economic cooperation is expanding and working on the implementation of the “One Belt, One Road” initiative, since the trade exchange between Egypt and China has reached $10 billion since 2014, today day. .
While celebrating the 15th anniversary of the establishment of the China TEDA region, he added that he has managed to attract top 500 Chinese companies to work in Egypt, with total TEDA sales of $3.5 billion and taxes of $2 billion. We aim to attract industries such as oil and gas equipment, textile and chemical industries, and the automotive industry in the coming years.
Source: RT