China-Egypt jointly built economic zone hailed as model for Belt and Road cooperation as a delegation from various party representatives visited the economic zone near Suez Canal.
The economic zone near Egypt’s strategic Suez Canal, developed by China’s industrial giant TEDA, serves as a successful example of Belt and Road cooperation between Egypt and China, fostering Egyptian industrial growth, according to representatives of various Egyptian political parties.
A delegation from several prominent Egyptian parties, including the Homat Al Watan Party, the Free Egyptians Party, the Al-Wafd Party, the Egyptian Socialist Party, and the Justice Party, recently visited the China-Egypt TEDA Suez Economic and Trade Cooperation Zone in Ain Sokhna, Suez province. During the visit, they toured Chinese factories, such as those of Midea, a Chinese home appliance manufacturer, and Jushi, a major fiberglass producer.
Remarks from the Delegation members
Eslam El-Shamy, human resources manager at Midea Egypt, stated that the company’s factory is located in the newly expanded 6-square-km area of TEDA, where it produces approximately 120,000 dishwashers and 500,000 air fryers annually. Notably, 70 percent of the components are made locally in Egypt.
Ma Xinyao, deputy general manager of Jushi Egypt, which has operated in TEDA for nearly 12 years, shared that the company runs four production lines, with an annual capacity of 360,000 tonnes of fiberglass. He also mentioned that Jushi Egypt has invested around 1 billion U.S. dollars, with 95 percent of its output being exported, and the remaining 5 percent serving the local market.
Amr Suleiman, spokesman for the Homat Al Watan Party, expressed that the TEDA zone is a realization of their hopes for Egypt-China cooperation. He emphasized the scale of the businesses and technology transfer that is taking place, noting that this collaboration exemplifies the Egyptian-Chinese strategic partnership and aligns with Egypt’s Vision 2030 for sustainable development.
The TEDA cooperation zone, established in 2008, spans 7.34 square km. According to Cao Hui, executive director of the Egypt-TEDA SEZone Development Company, by the end of September, around 180 companies had invested in the zone, with investments surpassing 3 billion dollars. The zone’s sales exceeded 4.6 billion dollars, and tax payments amounted to 450 million dollars. Additionally, it has created nearly 9,000 direct jobs and over 80,000 indirect jobs in Egypt.
Cao also highlighted that the TEDA zone is a successful model for both the Belt and Road Initiative (BRI) and Egypt’s strategic development plans due to Egypt’s key location and the strong bilateral ties between the two nations.
Ali Abdel-Wadud, a member of the foreign relations committee of the Al-Wafd Party, expressed his surprise at the extent of industrial activity within TEDA, stating that he didn’t realize products like those made in the zone were being manufactured in Egypt. He emphasized that this development represents a significant step forward in Egyptian-Chinese investment and industrial cooperation under the BRI.
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