Egypt's SCZone eyes more cooperation with Chinese businesses: chairman-Xinhua

Egypt's SCZone eyes more cooperation with Chinese businesses: chairman

Source: Xinhua| 2022-11-16 21:50:45|Editor: huaxia

SHARM EL-SHEIKH, Egypt, Nov. 16 (Xinhua) -- Egypt's Suez Canal Economic Zone (SCZone) seeks to strengthen cooperation with Chinese businesses, chairman of the SCZone General Authority has said here in Egypt's Red Sea resort city.

"In our promotional campaigns, we are keen to attract Chinese investors," Waleid Gamaleldien told Xinhua recently on the sidelines of the ongoing 27th session of the Conference of Parties (COP27) to the United Nations Framework Convention on Climate Change.

He said existing cooperative projects, such as the China-Egypt TEDA Suez Economic and Trade Cooperation Zone in his country, have shown that Chinese technology and expertise were impressive.

"TEDA played a significant role in advancing economic cooperation between Egypt and China and in increasing Chinese investments in Egypt," he added.

Commenting on the SCZone's climate action, he said Egypt over the past two years pursued localizing green hydrogen and turning the SCZone into a regional production and trading center for green fuel.

The green energy will be used in fueling ships crossing the Suez Canal to reduce emissions, he added.