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Tianjin Contracts to Build Suez Economic and Trade Cooperation Zone, Wen Jiabao Awards

  On the morning of Nov. 7, 2009 (Egyptian local time), Premier Wen Jiabao of the State Council and Egyptian Prime Minister Nazief jointly awarded for China-Egypt TEDA Suez Economic and Trade Cooperation Zone (hereinafter referred to as the Cooperation Zone) in Egyptian Prime Minister’s office, marking that the construction of the cooperative zone has got the staged achievements. Vice Mayor of Tianjin Ren Xuefeng and some members of the municipal government delegation attended the award ceremony. The award ceremony was chaired by Minister of Commerce Chen Deming.

  The two prime ministers interested to come to the cooperation zone planning and exhibition billboard and the sand table of the starting area, listened carefully to the vice mayor Ren Xuefeng’s report. Tianjin municipal Party committee and government attach great importance to the construction of cooperative areas. Since the successful bid for the national-level overseas cooperation zone in 2007, Tianjin established the cooperation zone leading group, formulated the investment policy to support enterprises to enter the park, allocated local matching funds, attracted China-Africa Development Fund to participate in investment, and has passed the confirmation assessment by the Ministry of Commerce and the Ministry of Finance in July this year. Premier Wen Jiabao said the two governments would establish a coordination mechanism to promote the construction of cooperation zones.

  At present, the construction of the cooperation zone has made a breakthrough. The cooperation zone is under construction by China-Africa TEDA Investment Co., Ltd. in Tianjin. Up to now, the infrastructure construction of 1 KM2 starting area in the cooperation zone has been completed with high standards and construction investment of more than 60 million US dollars. The standard factory buildings of 50,000 m2 and the production and living facilities of 44,000 m2 have been built. There are 18 enterprises in the park, with the registered capital of 180 million US dollars and the actual investment of 70 million US dollars. Besides, Chinese small business park has been completed and put into use, the nonwovens project of China Textile Machinery (Group) Co., Ltd. and the oil rig project of Sichuan Honghua Petroleum Equipment Co., Ltd. have been put into operation, China XD Group’s transformer project is starting, Brilliance Auto Group in Shenyang has signed a joint venture agreement in which it will build domestic brand car assembly plant in the park. The cooperation zone is playing a role in gathering Chinese enterprises to take advantage of the Egyptian regional advantages to jointly develop the markets in North Africa, Southern Europe and Middle East with Egypt.

  As to expansion area of 6 KM2, business negotiations are being carried out closely. The initial planning has been completed and it is expected to start construction next year with the estimated construction investment of 280 million US dollars. It will attract investment of 1.2 billion US dollars after being built, which can accommodate 150 to 180 enterprises, increase taxes of 1 billion US dollars and provide employment opportunities of 40,000. In terms of long-term planning, the planned living area of 10 KM2 will serve the entire Egyptian Suez Bay Northwest Special Economic Zone.Vice Mayor of Tianjin Ren Xuefeng greeted Premier Wen Jiabao at Cairo International Airport and attended the state banquet hosted by Egyptian Prime Minister Nazief to welcome Premier Wen. Also, Mr. Ren led Tianjin municipal government delegation to listen to the wonderful speech delivered by Premier Wen Jiabao in Arab League headquarters. Tianjin municipal government delegation also held a signing ceremony of the strategic cooperation memorandum of the Beijing Branch of Export-Import Bank of China and the China-Africa TEDA Investment Co., Ltd.. The Beijing Branch of Export-Import Bank of China plans to arrange RMB 6 billion Yuan credit to support the construction of the cooperation zone. In addition, the delegation launched the field investigation on the construction of the cooperation zone and held a forum for enterprises in the park to solve the practical problems faced by enterprises.

 
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