Investments of the BRICS countries in the economy of the Suez Canal

Investments of the BRICS countries in the economy of the Suez Canal

 Mr. Walid Gamal El Din, President of the Suez Canal Economic Zone, said that the zone already has existing partnerships with the BRICS countries, most notably the partnership with Chinese and Indian investments, which represented 45% of the total contracts of the Suez Canal Economic Zone in the recent period.

In addition to the “TEDA-Egypt” industrial zone, which represents Egyptian-Chinese economic cooperation, which has reached the presence of 160 companies with a total investment of 2 billion US dollars,

This came during his meeting with a delegation from the New Development Bank (NDB), headed by Mrs. Dilma Rousseff, President of the Bank and former Head of State of Brazil.

In addition to cooperation with China in the field of port operation through the international shipping lines alliance Hutchison, COSCO, and CMA, in addition to the existence of cooperation opportunities with a number of the group’s countries in sectors of common interest, especially with regard to industrial activities and the field of green fuel,

Stressing that the future holds more opportunities for cooperation between the economic zone and the business communities in the group’s countries, based on previous successes.

Dr. Rania Al-Mashat, Minister of International Cooperation, said that the Suez Canal Economic Zone is a result of the efforts made by the Egyptian state over the past ten years to develop sustainable infrastructure.

Exploiting its strategic location to connect the continents of Asia and Africa, and exploiting this advantage to attract foreign direct investments, localize industry, and encourage export operations from the region as a global logistics center for various countries of the world.