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Launch of Expansion Area of China-Egypt TEDA Suez Economic and Trade Cooperation Zone

  As a key project of economic and trade cooperation between China and Egypt, the Expansion Area Project of China-Egypt Economic and Trade Cooperation Zone Extension Project has been launched lately. By the end of 2012, the 1.34KM2 Starting Area of the Cooperation Zone was successfully completed, making good infrastructures available including five connection of roads, water and electricity, gas, broadband and telecommunications. Coupled with its unique location advantages, convenient and efficient services and convenient trade conditions, preferential tax policies, bonded warehousing and border logistics, it has attracted the settlement of Chinese manufacturing enterprises and service-oriented enterprises, formed a relatively complete industrial chain and achieved sound development effects.

  On the basis of existing achievements made through the construction of Starting Area, the Six KM2 Expansion Area is planned to be constructed in 3 phases with an estimated total investment of 230 million US dollars. It is planned with six major sectors including urban business district, bonded logistics district, processing and manufacturing area, high-end residential area as well as cultural and recreational resort areas. By then, it will attract the settlement of 100 enterprises from all countries led by Chinese-funded enterprises, and realize a total investment of 2.2 to 3.4 billion US dollars and sales amount of 11.5 billion US dollars, thus meeting the employment and living needs of 40,000 people. The Expansion Area will include not only the industrial park engaged in production and manufacturing, but also commercial, financial and modern services as well as real estate and other industries. In the production field, we advocate sustainable development according to the local conditions, and form a industrial chain of continuous transformation and upgrading; in the living aspect, we promote the people-centered philosophy and provide a comprehensive system of supporting measures for Chinese enterprises and employees settled; and value the ecological environment in the region.

  Fuad, the spokesman of Egyptian General Authority of Suez Canal, once said that the Suez Economic and Trade Cooperation Zone is currently the most dynamic core of Egyptian economy, and also represents the future of Egypt’s economic development. The construction of the Expansion Area of the Cooperation Zone will greatly promote the development of Egyptian economy, attract the investors from all over the world including China, help the massive Egyptian work force to find jobs and bring more advanced international experience to Egypt’s development.

  Liu Aimin, President of Egypt-TEDA SEZone Development Company, expressed that many Chinese enterprises choose to go overseas under the macro environment of “going global” strategy and adjustment of industrial structure, while the Egyptian government will attract investment as an important way of boosting economy and improving people’s livelihood. In this context, Suez Economic and Trade Cooperation Zone has gained the popularity of many Chinese enterprises by its increasingly sound investment environment and unique geographical advantages. Here, Chinese and Egyptian peoples and enterprises are jointly creating a story about dreams and growth on the piece of promising land.

 
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