Arab Finance: President Abdel Fattah El-Sisi announced an agreement with China to launch the third phase of the expansion of the Egyptian-Chinese industrial zone (TEDA) in the Suez Canal Economic Zone (SCZONE), as per an official statement.  

During talks with Chinese Leader Xi Jinping, President El-Sisi noted that the new phase will contribute to attracting further investments in key sectors, including renewable energy, automotive manufacturing, textiles, and chemical fibers.

For his part, President Xi reiterated China’s commitment to scaling its investment in Egypt, encouraging Chinese companies to capitalize on the country’s market potential and strategic location.

The meeting also highlighted ongoing cooperation in infrastructure, energy, manufacturing, and agriculture, as part of efforts to deepen the strategic partnership and expand economic ties between Egypt and China.

Earlier on the day, September 2, China’s Zhongce Rubber Group (ZC Rubber) penned an agreement to establish an integrated tire manufacturing complex in the Sokhna Industrial Zone, with estimated investments of $500 million.

Mansour Group also signed a memorandum of understanding (MoU) with the Chinese group Tianneng to explore investment opportunities in battery manufacturing and energy storage solutions in Egypt.

Based on the Central Agency for Public Mobilization and Statistics (CAPMAS) data, Egypt’s trade exchange with China jumped by 21.5% year-on-year (YoY) to $11.3 billion in the first half (H1) of 2026.