Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZONE) discussed ways of deepening cooperation in the industrial and logistics sectors with the US Department of Commerce, as well as probed potential opportunities for American companies within the economic zone,  as per a statement.

SCZONE Chairman Waleid Gamal El-Dien met with the US Assistant Secretary of Commerce for Industry and Analysis Steven Haines and his accompanying delegation to showcase the zone’s investment advantages and its strategy of locating manufacturing and production facilities closer to target markets. The model integrates industrial and logistics zones with affiliated seaports on the Mediterranean and Red seas.

Gamal El-Dien said Egypt’s international free trade agreements provide SCZONE investors with access to more than two billion consumers. The zone also offers competitive energy costs, a skilled workforce, a digitally enabled one-stop shop, and electronic platforms supporting industrial networking and logistics.

He also expressed SCZONE’s interest in expanding cooperation with the US business community, citing American companies’ experience across industrial and logistics activities.

In addition, he said the authority plans to conduct a promotional tour in the US during the current fiscal year to pursue further cooperation with American companies.

Furthermore, Gamal El-Dien pointed out that the SCZONE is a viable option for US companies seeking to navigate global challenges, supported by economic relations between Egypt and the US.

For his part, Haines welcomed the opportunity to learn about SCZONE and its investment advantages, pointing to the development of its port projects and infrastructure. He also expressed interest in further cooperation, saying the zone offers investment opportunities for American companies across several sectors.