Garden Enterprise Dynamics | Midea (Egypt) Kitchen Heat Appliance Officially Settles in TEDA Cooperation Zone
Release time:
2020-11-22 00:00
Garden Enterprise Dynamics | Midea (Egypt) Kitchen Heat Appliance Officially Settles in TEDA Cooperation Zone
On November 19, Midea (Egypt) Kitchen and Hot Water Appliance Co., Ltd. (hereinafter referred to as "Midea Egypt Kitchen Hot Company") was officially unveiled in the China-Egypt TEDA Suez Economic and Trade Cooperation Zone (hereinafter referred to as "TEDA Cooperation Zone"). It marks the official entry of Midea Egypt Kitchen Hot Company into the TEDA Cooperation Zone. The company will take advantage of the platform of the cooperation zone to radiate the Middle East and European markets and further realize the overseas strategic layout of Midea.
Egypt time 9:18 (Beijing 15:18), Egypt officially opened the United States!
In October this year, Egypt's TEDA Special Zone Development Company and Midea's Kitchen Hot Business Department formally signed a strategic cooperation agreement. The two sides will carry out closer cooperation in the fields of technology, products, services and comprehensive solutions related to Midea's Egyptian Kitchen Hot Project. In addition, the two sides will make full use of their own resource advantages, strengthen exchanges in related industries, and achieve complementary resources and win-win cooperation. According to the framework of the previous cooperation agreement, Midea Egypt Kitchen Heat Company will build a research and development and production center for kitchen and hot water appliances in the expansion area of the TEDA cooperation zone. Up to now, the preparatory work for the construction of the Egyptian project has been fully launched, and the first phase of the project is expected to be completed by the end of 2021.
Zhang Jidin, Strategic Investment Director of Midea's Kitchen and Hot Water Division, introduced that the project covers an area of 60000 square meters. It mainly produces and operates gas water heaters, household dishwashers, kitchen cleaning and other home appliances and related accessories, and provides maintenance of the above products., After-sales service and related technical consulting services, the products are mainly exported to the European and American markets. After the project reaches production, the annual output of dishwashers can reach 1.5 million units, solving the local employment problem of 1200 people.
Hands clasped together to build a community of destiny
Zhang Jiding said, based on the country's "domestic cycle as the main body, domestic and international double cycle mutual promotion of the new development pattern" thinking, the United States and Egypt project in the future plans to introduce its upstream and downstream or product suppliers group into the zone, from the industrial chain of all links to speed up the process of developing emerging markets. He stressed that the United States is willing to give full play to its own advantages and contribute its wisdom and plans to promote and enhance bilateral trade cooperation between China and Egypt.
The start-up of Midea's Egyptian company, like a light in the plight of the epidemic, brings hope.
The establishment of Midea's Egyptian Kitchen Hot Company is a pioneering move by Chinese companies since the current global economy has been hit by the epidemic. Despite the difficulties, the move will bring mutually beneficial and win-win results. The TEDA Cooperation Zone is willing to continue to actively provide services to Chinese enterprises in Egypt.
The celebration cake with international and local characteristics is so cross-border.
Zhang Jiding, Strategic Investment Director of Midea Group Kitchen and Hot Water Division, Duan Hailong, Financial Director of Midea Egypt Company, Wu Haitao, Head of Engineering Infrastructure, Li Chentao, Assistant Executive Director of Egypt TEDA Investment Company, Wei Na, Management Director, Cao Hui, Assistant General Manager of Egypt TEDA Special Zone Development Company, and other relevant department personnel attended the unveiling ceremony.
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