Arab Finance: The Suez Canal Economic Zone (SCZONE) and Beijing-based development finance institution China Development Bank (CDB) explored cooperation on investment projects, infrastructure, and utilities to support development within the zone, according to a SCZONE statement.
In a meeting with a CDB delegation led by Huang Zhiqiang, President and Deputy Secretary of the CPC Committee of the CDB, SCZONE Chairman Moustafa Shaikhon said cooperation with CDB could broaden strategic partnership between Egypt and China through investment projects and infrastructure and utility upgrades to meet growing investment demand.
Outlining the zone’s investment advantages, Sheikhon highlighted its role in international trade and its location connecting continents. Combined with international free trade agreements, this gives investors access to markets covering approximately 3.5 billion consumers, he said.
He also explained that the integration of SCZONE’s industrial zones and ports supports efforts to localize industrial and logistics activities across 21 target sectors. These include renewable energy and green fuels, pharmaceuticals and active pharmaceutical ingredients, textiles and ready-made garments, and logistics and seaport services.
Zhiqiang welcomed the opportunity to learn more about SCZONE and its targeted industrial and logistics sectors, praising the authority’s support for Chinese companies across their business activities. He said CDB was ready to promote the zone and its projects among the bank’s extensive client base in the Chinese business community.
SCZONE is Egypt’s principal platform for attracting global investment, Zhiqiang noted, expressing interest in joint efforts that would support development in both countries.
The bank’s services extend beyond financing to specialized technical consultancy and detailed economic studies, Zhiqiang added.
He also pointed to CDB’s longstanding cooperation with Egyptian financial institutions on major projects and emphasized the importance of closer ties with SCZONE, supported by the strong relationship and alignment between Egypt and China.
