Prime Minister's Pro-Certificate, KAKS Katas Enters TEDA Cooperation Zone to Accelerate the Upgrading of Egypt's Home Appliance Industry
Release time:
2024-09-14 18:49
"This year marks the 10th anniversary of the establishment of a comprehensive strategic partnership between Egypt and China, and under the framework of the Belt and Road Initiative and the Forum on China-Africa Cooperation, Egypt-China relations have continued to develop and fruitful cooperation has been achieved in political and economic fields. The convening of the summit interprets the new positioning of China-Africa relations and announces a series of major initiatives for China and Africa to work together to promote modernization, which will bring more new opportunities for bilateral cooperation." Egyptian Prime Minister Madbouli, who went to China to attend the summit of the Forum on China-Africa Cooperation, said that he is full of expectations for the forum summit. During the summit, Prime Minister Madbouli, who attended the signing ceremony of major Sino-Egyptian production capacity cooperation projects held by the Egyptian Embassy in Beijing, personally witnessed the depth and breadth of Sino-Egyptian cooperation: six projects were signed and settled in the Sino-Egyptian TEDA Suez Economic and Trade Cooperation Zone (TEDA Cooperation Zone), involving chemical, textile, new energy, home appliances and food industries, with a total investment of about 1 billion US dollars, after the project is put into operation, it will provide nearly 3000 jobs in Egypt.
According to China Business News, Egypt is becoming a regional manufacturing center for Chinese home appliance companies in Middle East Africa. China's well-known electrical appliance brands Haier, Midea and Wanhe have invested and built factories in Egypt (Midea and Wanhe are all enterprises in the TEDA Cooperation Zone). "Made in Egypt" has increasingly evolved into an important part of the "Global Made" of Chinese home appliances.
Prime Minister Madbouli witnessed the signing of one of the six projects to enter the TEDA Cooperation Zone-the KAKS Cates Egypt project, which corroborated the judgment of First Finance and Economics with practical actions. The project is the first home appliance supply chain industrial park in Egypt, covering an area of about 80000 square meters, with a total planned investment of 50 million US dollars, and is expected to create about 300 new jobs. The project will build a specialized supporting park for the supply chain of white goods, which will not only support Haier, Midea and other Chinese home appliance brands, but also provide high-quality supporting supply chains for local Egyptian brands, including the establishment of parts storage and distribution centers, SMT assembly plants, sheet metal processing centers, injection molding centers, foam material production and other related supply chain enterprises.
"We are committed to introducing China's home appliance technology and management experience into Egypt to promote the modernization and upgrading of the local home appliance industry." KAKS Cates project leader said.
Midea, Wanhe, and KAKS Katas all chose the TEDA Cooperation Zone, which is known as the "Development Engine of the Suez Canal Economic Zone". They undoubtedly value the cooperation zone's transportation, policies, software and hardware supporting services and industrial cluster development advantages.
With the entry of industry leaders and more upstream and downstream enterprises, the home appliance industry sector of the TEDA Cooperation Zone will certainly promote the localization rate of the local home appliance industry in Egypt, provide home appliances that meet local needs, and at the same time boost the export of Egyptian home appliances, so as to inject strong impetus into the economic development of Egypt.
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