China-Egypt TEDA Suez Economic and Trade Cooperation Zone Launches Expansion Zone
Release time:
2017-03-20 14:10
As a key project of China-Egypt economic and trade cooperation, the China-Egypt Suez Economic and Trade Cooperation Zone Extension Project was launched recently. At the end of 2012, the starting area of the cooperation zone covering an area of 1.34 square kilometers was successfully completed. The area has good basic supporting facilities, realizing the "five links" of roads, water and electricity, gas, broadband and telecommunications. coupled with unrepeatable location advantages, convenient and efficient services and convenient terms of trade, preferential tax policies, bonded warehousing, and border logistics, it has attracted Chinese manufacturing enterprises and service-oriented enterprises to settle in, formed a relatively complete industrial chain, and achieved very good development results.
On the basis of the achievements in the construction of the starting area, the expansion area, which covers an area of 6 square kilometers, will be constructed in three phases, with an estimated total investment of 0.23 billion US dollars. It is planned to have six major sectors: urban business district, bonded logistics area, processing and manufacturing area, high-end residential area, and cultural and entertainment resort. It will attract more than 100 enterprises from various countries, mainly Chinese-funded enterprises, to settle in, and the total project investment will reach 2.2 billion US dollars. To 3.4 billion US dollars, achieve sales of 11.5 billion US dollars, while meeting the employment and life of the 40000 population. The expansion area will include not only industrial parks engaged in manufacturing, but also many industries such as commerce, finance, modern service industry and real estate. In the field of production, we advocate adjusting measures to local conditions and sustainable development to form an industrial chain of continuous transformation and upgrading; in terms of life, we advocate people-oriented and provide comprehensive and systematic life supporting measures for Chinese enterprises and personnel; we should attach importance to the construction of ecological environment in the region.
Fuad, a spokesman for Egypt's Suez Canal Administration, said that the Suez Economic and Trade Cooperation Zone is currently the most dynamic heart of Egypt's economy and the future of Egypt's economic development. The construction of the expansion zone of the cooperation zone will greatly promote the development of Egypt's economy, attract investors from all over the world, including China, help a large number of Egyptian laborers achieve employment, and bring more advanced international experience to Egypt's development.
Liu Aimin, chairman of Egypt's TEDA Special Economic Zone Development Company, said that at present, under the macro environment of "going out" strategy and industrial restructuring, many Chinese enterprises have gone overseas, and the Egyptian government takes attracting investment as an important means to boost the economy and improve people's livelihood. In this context, the Suez Economic and Trade Cooperation Zone has won the favor of many Chinese enterprises with its increasingly perfect investment environment and unique location advantages. The Chinese and Egyptian people and enterprises are jointly interpreting the development dream and growth story in this hot land.
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