Arab Finance: Moustafa Shaikhon, Chairman of the Suez Canal Economic Zone (SCZONE), attended the groundbreaking ceremony for South Korean sportswear manufacturer H&L Egypt Apparel’s factory in the Qantara West Industrial Zone, with investments of $30 million.

Spanning 42,000 square meters, the project aims to establish a smart, eco-friendly sportswear manufacturing facility equipped with advanced industrial technologies. The factory is expected to create around 2,000 direct jobs and expand production capacity to meet diverse market demand.

H&L Egypt Apparel is the first South Korean company to seal an investment agreement for a project within the SCZONE.

Signed in November 2025, the deal was initially valued at $15 million before the company doubled its planned investment to $30 million, reflecting its confidence in the zone’s investment potential and its prospects as a base for accessing multiple markets.

For his part, Shaikhon said the project marks a significant step toward attracting South Korean investment to the SCZONE, hoping the facility will pave the way for further South Korean investment across its industrial zones.

Meanwhile, Lee Seung-jun, CEO of H&L Egypt Apparel, highlighted plans to establish an advanced manufacturing base capable of competing in global markets by leveraging modern technologies and adhering to quality and sustainability standards, thereby increasing value added and supporting future growth.

The Qantara West Industrial Zone currently hosts 54 projects representing nine nationalities, with total investments of $1.54 billion, Shaikhon noted. The spinning, weaving, and ready-made garments sector accounts for 43 projects, making it the zone’s leading industrial activity.