$ 50 million for new suitcase factory: 3000 jobs in Qantara!
$ 50 million for new suitcase factory: 3000 jobs in Qantara!
In a significant step for the economic development of Egypt, the Suez Canal Economic Zone (SCZONE) laid the foundation for a new luggage production project by the Chinese company Henneway in the Qantara West industrial area. The investment of $ 50 million extends over 120,000 square meters and is expected to create 3,000 jobs. Gamal El-Dien emphasized that this project is a symbol of Egypt's commitment and the development vision of the Sczone, which stands out by improved infrastructure and a company-friendly environment, as EGYPT Today reported .The Sczone has already completed the first development phase, which includes nine projects in various sectors such as textiles, medical devices and sportswear. The total volume of the six projects already signed is $ 271 million, which means over 12,000 new jobs. Henneway, Hailong Wu, is confident that the support and incentives of the Sczone and international agreements will have favored the rapid start of the project. This cooperation strengthens the partnership between Egypt and Chinese investors, whose total investments now exceed $ 3 billion.
Expansion of the sectors in the Sczone
In addition to the luggage project, Gamal El-Dien also announced the expansion of the SCZONE by 21 sectors by 2025 during a discussion round with members of the American Chamber of Commerce in Cairo. The focus is on establishing projects for green energies, which should further strengthen the economic perspectives of the region. During the session, EL-Dien emphasized the importance of integrating industrial areas with port facilities for the promotion of trade both nationally and internationally. A total of 23 declarations of intent were signed, with nine of them being converted in framework agreements in order to implement the projects on time, such as Sczone reported .Egypt has established itself as an ideal center for the production of green fuels, and the commitment of the Sczone increasingly attracts diversified investments, which makes the region an attractive goal for international investors.
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| Ort | Qantara West Industrial Zone, Ägypten |
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