Prime Minister Madbry Visits TEDA Cooperation Zone Again

At the beginning of the new year in 2024, the China-Egypt TEDA Suez Economic and Trade Cooperation Zone (TEDA Cooperation Zone for short) ushered in an endless stream of visits, inspections and exchange teams. On January 11, the TEDA Cooperation Zone welcomed the fourth visit of the Egyptian Prime Minister during his term of office. This time, Egyptian Prime Minister Dr. Mustafa Madbouli led a team to visit the TEDA Cooperation Zone. The entourage included Walid Jamal Eldin, Chairman of the General Administration of the Suez Canal Economic Zone (referred to as the General Administration of the Special Administrative Region), and the Egyptian government Heads of multiple departments. Li Daixin, General Manager of China-Africa TEDA, Xu Qifeng, Executive Director of Egypt TEDA, Cao Hui, Executive Director of Egypt TEDA Special Zone Development Company, Radwan, Executive President of Egypt TEDA, received the Prime Minister and his party and accompanied them to visit and inspect the enterprises entering the zone.

As a "frequent visitor" who has visited the TEDA Cooperation Zone many times, Prime Minister Madabli knows the development status of the TEDA Cooperation Zone like the back of his hand: Up to now, the TEDA Cooperation Zone has attracted more than 150 companies to settle in, with actual investment exceeding US $2 billion. Sales are nearly US $4 billion, and taxes and fees are over US $0.2 billion. Nearly 7000 people are directly employed and about 50000 people are driven by industry.

Prime Minister Madebury visited the Xiamen Yanjiang Egypt project on behalf of enterprises entering the zone. The company mainly produces and sells basic materials for the sanitary products industry, including non-woven fabrics, polyethylene films and plastic colorants. Zhang Jingqiu, general manager of the company, said that at this stage of the project, there are three production lines, including a non-woven production line equipped with China's latest professional knowledge, equipped with high-precision automatic defect detection system and used for the production of high-quality products. the production line has the characteristics of high precision, stable performance and fast speed. The Xiamen Yanjiang Egypt project was completed and put into operation in early 2023. The current investment is US $18 million, and the employees include 160 Egyptian workers and 15 Chinese workers. In addition to the Egyptian market, the products are also available to many countries and regions, including Saudi Arabia, the Czech Republic, the United States, Germany, South Africa, etc., and are the main suppliers of P & G International. Prime Minister Madebury affirmed that the Xiamen Yanjiang Egypt project will help the local economy and employment, and sent a message that the project is developing better and better.

The Egyptian Prime Minister and his party also inspected the Silicon Valley Electronics Factory, a local Egyptian enterprise located in the starting area of the TEDA Cooperation Zone. Abdul Munim hawaja, head of the factory, said that the project is mainly engaged in the production of mobile phones and accessories, including five production lines, three assembly lines and one packaging line, with an annual production capacity of 150000 pieces and an employment scale of 80 workers. After the project is expanded, it will reach 150 workers. President Walid Jamal Eldin noted that the SAR's strategic location made it an export hub for the African market, that the technology sector was very important in the SAR Directorate General's plan to localize industry, and that small industrial enterprises were in line with Egypt's economic policy and had unlimited prospects. The Silicon Valley Electronics factory is based on the latest technology system and is equipped with the latest testing and quality inspection equipment, so it has attracted great attention from the government.

After the visit, Chairman Walid Jamal Eldin emphasized that TEDA and more than 140 companies have invested more than US $2 billion here. The TEDA Cooperation Zone is one of the most successful and important partners in the Suez Canal Economic Zone.

Prime Minister Madbouli affirmed the development achievements and construction progress of the TEDA Cooperation Zone and appreciated the vigorous development of enterprises entering the zone to make the TEDA Cooperation Zone full of vitality. He said that since the establishment of the comprehensive strategic partnership between Egypt and China, the two countries have frequent high-level exchanges and deepened cooperation in various fields, which has brought tangible benefits to the two peoples. Egypt is willing to learn from China's development experience and welcomes more Chinese enterprises to participate in Egypt's national construction. The TEDA Cooperation Zone is the leading model project in the friendly cooperation projects between Egypt and China. It is hoped that the cooperation zone will give full play to its role as a platform for economic and trade cooperation between the two countries, promote the common development of the Suez Canal area, and strive for greater economic and social benefits. He also said that the Egyptian government will, as always, provide strong support for the TEDA cooperation zone and promote the further development of the TEDA cooperation zone.

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