SCZone Receives Head of Press Authority, Media Delegation

Chairman of the The General Authority for Suez Canal Economic Zone (SCZone) Yehia Zaki received on Wednesday a high level delegation of journalists and media personnel, including Abdel-Sadek El-Shorbagy, Head of Egypt's National Press Authority (NPA).

Zaki stated that the delegation reviewed the latest developments and efforts made by the Authority, including infrastructure projects, facilities, as well as a briefing on new investments and regulation laws.

The delegation visited the Chinese Jushi factory for fiberglass industries, the second largest in the world, as well as the Suez Industrial Development Company and inspected the German Siemens Academy, which provides maintenance and repair services, as well as professional and technical training.

They also visited the DP WORLD SOKHNA port, which was recently developed at a cost of 10 billion pounds, with a new container yard on an area of 350 thousand square meters, increasing the annual capacity of the port.

He added that the development and modernization of infrastructure, procedures and management system in the ports resulted in attracting investments and contracts with foreign and local companies.

He reviewed the components of the SCZone, which include 4 industrial development & logistical zones, 6 ports on the Mediterranean and Red Sea.The chairman also talked about the legal, legislative and investment regulations, the business climate and the attractiveness factors of the zone in terms of incentives, exemptions and trade agreements that add competitive advantages to the zone.

"The zone is currently targeting some measures that will help to enhance the region's value and raise its rating to compete with economic zones around the world," he emphasized.

He referred to the strategy that the region is currently working on to create new investment opportunities in targeted industrial and marine sectors to localize industries for the purpose of replacing imports.

The SCZone adopts an integrated industrial cluster policy, which aims to create areas that work in the same field and serve each other, such as establishing a factory for vehicles and railway requirements in East Port Said, platforms for small and medium sized industries in the Qantara West region, and an effective system to provide marine and ship supply services.