The number of Chinese companies operating in the Suez Canal Economic Zone (SCZone) has reached 200 companies in various sectors, Chairman of SCZone, Walid Gamal El-Din, said during his meeting with a delegation from the Chinese Jiangsu Federation of Industry & Commerce (JSFIC).

El-Din added that these include companies that SCZone recently succeeded in attracting with investments exceeding $1.067 billion during a promotional tour to China.

The meeting aimed to explore areas of cooperation and brief the delegation on the investment opportunities within SCZone, focusing on key target sectors, to attract more Chinese companies to the zone.

The chairman of SCZone presented the investment opportunities available at the authority in the 21 sectors, ranging from industrial to logistical.

Earlier in July, El-Din added that the revenues of SCZone amounted to EGP 8.245 billion during FY2023/2024, including revenues worth EGP 5.932 billion denominated in dollars, equivalent to 72% of total revenues.

He pointed out that the authority’s revenues jumped by the end of the last fiscal year to about EGP 8.5 billion, compared to EGP 2.76 billion during FY 2016/2017, which represents an increase rate of 205%.

This came during his meeting with Prime Minister, Mostafa Madbouly, to follow up on SCZone’s recent developments.