China Trade News China-Egypt TEDA Suez Economic and Trade Cooperation Zone Releases 2030 Vision

How will the desert change in fifteen years? The answer given by the Sino-Egyptian TEDA Suez Economic and Trade Cooperation Zone (TEDA) on the Red Sea coast is-from barren to prosperous. In the past 15 years, the TEDA Cooperation Zone has grown from scratch and created a series of achievements: it has attracted 140 companies to settle in, with actual investment exceeding US $1.6 billion, cumulative sales exceeding US $3.7 billion, and taxes and fees exceeding US $0.2 billion. Nearly 6000 people are employed, and the industry drives about 50000 people......

A few days ago, the TEDA Cooperation Zone held its 15th anniversary and strategic upgrade activities, including Walid Jamaledin (Waleed Gamalaldeen), Chairman of Egypt's Suez Canal Economic Zone Administration, Abd Almejid Sakr (Abd Almegeed Sakr), Minister Zhang Chaoyang of the Chinese Embassy in Egypt, Ma Lu, Chief Representative of the Cairo Representative Office of the China Development Bank, Chang Weicai, President of the Egyptian Chamber of Commerce of China, and other financial and other leading institutions in Egypt, more than 160 people including enterprises, partners, and media organizations in the TEDA Cooperation Zone gathered in the park to talk about the joint construction of the "Belt and Road" between China and Egypt ".

 

 

As the leader of the competent body of the TEDA Cooperation Zone, Walid Jamaledin is very familiar with the situation of the TEDA Cooperation Zone. He said that the TEDA Cooperation Zone is located in the three continents of Asia, Africa and Europe. It is also an important supporting point of the "Belt and Road" and has a unique strategic position. "With the joint planning and promotion of the two heads of state, the TEDA Cooperation Zone, as a model project for the Canal Zone and even Egypt as a whole, has successfully attracted 140 enterprises to settle down, giving a strong impetus to China-Egypt economic and trade exchanges and investment cooperation. I am not only optimistic about the next 15 years of the cooperation zone, but also happy to see the cooperation zone become a century-old brand."

"I have visited the TEDA Cooperation Zone many times, and every time I make new discoveries, the construction of the park is getting better and better, and there are more and more enterprises." Abdul almejid saker said that the complete infrastructure and preferential investment policies enjoyed by TEDA cooperation zone are very attractive to foreign investment in Egypt, and TEDA is a reliable partner.

Zhang Chaoyang said that in the past 15 years, the TEDA cooperation zone has grown from scratch and has flourished with the strong support of the two governments. The actual investment, sales, and tax payments have continued to grow. The TEDA Cooperation Zone has become an industrial park with the best comprehensive environment, the highest investment density, the highest unit output, and the most intensive Chinese-funded enterprises in Egypt. It has become an important platform for China-Egypt investment cooperation and production capacity cooperation.

Lu believes that Egypt's TEDA is the forerunner, leader and practitioner of China-Egypt "Belt and Road" cooperation. "The growth trajectory of the TEDA Cooperation Zone is almost a microcosm of the deepening of political mutual trust and the consolidation of practical economic and trade cooperation between China and Egypt. After 15 years of hard work, China and Egypt have worked together to build important projects and sample models of China-Egypt economic and trade cooperation on a desert Gobi."

Chang Weicai said that the TEDA Cooperation Zone has made great contributions to the friendly cooperation between China and Egypt. "Since the establishment of the TEDA Economic and Trade Cooperation Zone, many Sino-Egyptian economic and technological cooperation projects have been implemented, which has greatly promoted and promoted the economic and social development of Egypt. It has provided more and more labor employment, and has injected strong impetus into the implementation of the'Belt and Road' initiative in Egypt."

Zhang Zhixiang, assistant to the executive director of TEDA, Egypt, introduced that the TEDA cooperation zone was rated by President Sisi as the most successful project in the Suez Canal Economic Corridor. In the spring of this year, after visiting the TEDA cooperation zone in person, Egyptian Prime Minister Madebury also praised the TEDA cooperation zone as a "model of Egyptian industrial parks".

On the day of the event, TEDA released the "TEDA Cooperation Zone 2030 Vision-Strategic Upgrade Plan", which opened a new journey of construction and operation. The plan takes the "three contents" as the main line and the "three major projects" as the starting point. It plans to further expand the construction of the TEDA Cooperation Zone, effectively connect with the Tianjin Dongjiang Comprehensive Bonded Zone, and help Tianjin expand the breadth and depth of opening up.

 

 

It is understood that the three contents include: comprehensively promoting development and accelerating industrial agglomeration; promoting "internal and external linkage" to build a "one core, two corridors, and three bases" layout; and exploring the achievements of the two-way open system. The three major projects refer to the industrial agglomeration capacity improvement project, the industrial service capacity improvement project, and the industrial supporting capacity improvement project, so as to cultivate a number of leading backbone enterprises with outstanding competitive advantages and strong driving ability, so as to promote the industrial agglomeration and cluster development of the park.

"One core" refers to: taking Tianjin Dongjiang Comprehensive Free Trade Zone as the "core" to link with TEDA cooperation zone, build automobile and spare parts distribution center, and extend Tianjin's automobile industry chain; take TEDA's overseas warehouse as the starting point to build an international commodity distribution center to drive the export of Tianjin's famous and high-quality products; and promote the process of RMB internationalization with the support of RMB international investment and loan fund and cross-border commercial factoring.

"Double corridor" refers to: to promote the linkage of Tianjin Port and Insuhana Port routes to build a logistics and transportation "corridor" in the demonstration area; Promote the TEDA Science and Technology City and Egypt's "the belt and road initiative" spatial information corridor project to realize facility connectivity, build a spatial information port in the TEDA cooperation zone, and build a spatial information "corridor".

The "Three Bases" plans to build three demonstration bases with Tianjin Software Park, Hong Kong Jinlian and Tianjin Zhongxin Eco-City as fulcrums: investment and trade intelligence platform, financial innovation base and people-to-people exchange platform.

"The upgrade plan is based on the successful experience of the first 15 years, taking into account the new opportunities and challenges of the new era and new environment, combining the complementary advantages of China and Egypt, and proposing a two-stage development plan, and planning the next The development blueprint for five years or even a longer period of time has shown us a new and bright future." The road believes that the strategic upgrade plan for the TEDA cooperation zone comes at the right time.

"During the first China-Arab summit, President Xi Jinping stressed in his meeting with President Sisi that China is willing to deepen cooperation with Egypt in building the Belt and Road, including the implementation of major cooperation projects such as the China-Egypt TEDA Suez Economic and Trade Cooperation Zone. The important consensus reached by the two heads of state provides strategic guidance for expanding China-Egypt economic and trade cooperation under the new circumstances." Zhang Chaoyang said that the launch of the strategic upgrade of the TEDA Cooperation Zone conforms to the top-level design and general trend of the China-Egypt comprehensive strategic partnership to achieve leapfrog development and jointly build the "Belt and Road.

 

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Source: China Trade News

Reporter Zhang Fan