SCZone, Hungary in talks to enhance bilateral economic ties
Updated 8/13/2025 4:22:00 AM
Arab Finance: The Chairman of the General Authority for the Suez Canal Economic Zone (SCZone) Waleid Gamal El-Dien met with the Hungarian Ambassador to Cairo Rita Herencsár and the Economic and Commercial Counselor at the Embassy of Hungary Patrik Moruzs to explore joint cooperation opportunities and strengthen economic relations, as per a statement.
The meeting is part of the SCZone’s efforts to expand partnerships with development allies and partner countries to support sustainable development goals and reinforce its role as a global industrial and logistics hub.
Gamal El-Dien reviewed the SCZone’s infrastructure, which includes six seaports on the Red Sea and the Mediterranean connected to global supply chains, and four industrial zones capable of accommodating a wide range of industries.
He highlighted competitive advantages such as direct and indirect financial incentives, sector-specific benefits, reliable energy supplies, and skilled labor at competitive costs, positioning the zone as an attractive destination for European companies seeking regional and global expansion.
He stressed the importance of building partnerships with Hungary in value-added sectors, pointing to opportunities in automotive manufacturing, data centers, and industries supporting the railway and electricity sectors, while tapping into the technological expertise of Central and Eastern Europe.
Herencsár praised the SCZone’s development and expressed Hungary’s interest in cooperation in manufacturing, export, infrastructure, solar energy, and water management.
She proposed organizing meetings between Gamal El-Dien and Hungarian companies interested in investing in the zone and pursuing joint projects under public-private partnerships.
Following the meeting, the Hungarian delegation toured several projects, including Ecobat for Industrial Development Company, Elsewedy Watanya for Industries and Engineering Projects, and the National Steel Fabrication Company (NSF), viewing international partnership models and opportunities for industrial integration.
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