The SCZONE, established in 2015, is a vital economic zone in Egypt, playing a crucial role in attracting foreign investment and promoting economic growth. It is strategically located along the Suez Canal, offering a unique advantage for businesses seeking to access global markets. El-Din’s participation in the forum highlighted the SCZONE’s commitment to fostering strong economic ties with the UK.
In his opening remarks, attended by Egypt’s Ambassador to the UK, Sherif Kamel; Hossam Heiba, CEO of the General Authority for Investment and Free Zones; and Charlie Garnett, Head of Business and Trade for the UK in Egypt, Gamal El-Din outlined the potential of the SCZONE. He emphasized the zone’s four industrial areas and six seaports on the Mediterranean and the Red Sea, highlighting the integration between them and Egypt’s efforts to optimize these capabilities with world-class infrastructure. He also discussed how this readiness positions the SCZONE as a hub for green fuel industries and for providing both fossil and green fuel bunkering services for ships.
Gamal El-Din reaffirmed that the competitive investment environment in the SCZONE was part of Egypt’s broader economic vision to deepen international economic cooperation and attract investments in key sectors. He highlighted 21 targeted industrial and service sectors, identified through thorough studies that align with the SCZONE’s capabilities and the needs of regional and global markets. The chairperson further noted that the SCZONE has successfully attracted numerous international companies by offering an appealing investment environment. Incentives include financial and non-financial benefits, such as its strategic location, competitive labor and energy costs, and a one-stop-shop service for obtaining all necessary permits for construction and operation. He also discussed the strategy to localize the automotive industry in the SCZONE, presenting its business model.
On the forum’s sidelines, Gamal El-Din met with companies specializing in steel, modern construction materials, water treatment, and telecommunications to explore potential cooperation within SCZONE projects. Gamal El-Din was invited to the event by HSBC Bank, the Egyptian-British Chamber of Commerce, and the UK Export Finance.