Hungary's Ambassador Visits Suez Canal

The Hungarian Ambassador in Cairo András Imre Kovács visited on Thursday the Suez Canal Economic Zone SCZone to discuss possible industrial and investment opportunities between the two countries

The Hungarian delegation was received by Yehia Zaki, Chairman of the SCZone, who reviewed investment opportunities, incentives and the latest developments in the zone, as well as the currently established projects and the development witnessed in the ports, most notably the ports of Sokhna and Al-Arish.

Zaki pointed to the interest the economic zone receives at the regional and international levels, noting the multiplicity of sectors offered for the region's partners.

The zone enjoys the availability of all production components, on top of which is its distinguished location that links the Red and Mediterranean Seas through the most important waterway, the "Suez Canal".

The chairman also reviewed the size of the achievements made in terms of infrastructure, facilities, procedures, investments and what the region aspires to during its current five-year plan 2020/25, in addition to the high performance rates in all of its ports.

The two sides discussed mechanisms to attract more investments and Hungarian capital to the zone, which represents one of the most important global economic regions.

On his part, Kovacs praised the economic advantages of the zone, stressing that it enjoys huge investment opportunities and has potentials for a new phase of cooperation and partnership with Hungary.

He expressed his confidence in the economic zone of the Suez Canal, as there are many opportunities to establish projects in many industrial fields that attract businessmen and investors from Hungary.

Meanwhile, the ports of Ain Sokhna and East Port Said are witnessing the launch of huge projects aimed at localizing industries.