Sokhna: Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), Walid Gamal El-Din, witnessed the signing ceremony of four new contracts between the Swedish Industrial Development Company and four major Chinese companies in the textile sector. These contracts, signed on October 20, 2025, aim to establish new factories within the 'Sokhna 360' city, part of the Suez Canal Economic Zone in the Sokhna industrial area. The total investment for these projects is $65 million, covering an area of 238,000 square meters, and they are expected to create over 3,000 direct jobs. Eng. Mohamed Al-Qamah, CEO of the Swedish Industrial Development Company, signed the contracts alongside representatives from the investing companies, in the presence of several authority leaders, industrial developers, and investors.
According to State Information Service Egypt, Mr. Walid Gamal El-Din welcomed the new projects and highlighted the economic zone's growth in attracting investments from various countries and sectors. He emphasized the zone's appeal as a prominent investment destination due to its infrastructure, strategic location, and investment incentives. He assured that the authority is committed to supporting investors to ensure swift implementation and operation of projects.
Mr. Walid Gamal El-Din also noted the promising potential of the textile industry within the Suez Canal Economic Zone. He mentioned the zone's focus on developing an integrated industrial system involving all production stages, enhancing Egypt's competitiveness in regional and global markets. He stressed that attracting major global companies is a key step towards localizing modern technology and creating quality job opportunities for Egyptian youth, aligning with the authority's vision to establish the area as a specialized industrial and logistical platform.
Eng. Mohamed Al-Qamah, CEO of the Swedish Industrial Development Company, confirmed that the agreements reflect international investors' confidence in Egypt's investment climate and the infrastructure provided by the company within its industrial cities. He explained the company's commitment to developing infrastructure and smart solutions, making Swedish cities more attractive and sustainable. He reiterated the company's dedication to supporting partners throughout their investments, fostering an ideal environment for foreign investments in Egypt.
The Suez Canal Economic Zone is recognized as a significant integrated economic area, featuring six seaports and four industrial zones, offering substantial opportunities in manufacturing and logistics services for investors.