Located some 50 km south of the Suez Canal, the China-Egypt TEDA Suez Economic and Trade Cooperation Zone (TEDA) has given a once barren desert a fresh look, emerging as a flagship project connecting China’s Belt and Road Initiative (BRI) and Egypt’s Suez Canal Corridor.
Built in 2008, the cooperation zone has attracted more than 160 companies spanning a range of sectors including new building materials, petroleum equipment, high and low-voltage gear, and machinery manufacturing, creating jobs for over 70,000 locals.
“Since the beginning of this year, up to sixty business delegations have visited TEDA,” said Wei Jianqing, deputy general manager of China-Africa TEDA Investment Co., Ltd., the developer of the cooperation zone.
With the advancement of the joint construction of the BRI, more and more Chinese manufacturing enterprises are going overseas, and the cooperation zone provides a platform for these enterprises to invest and expand their businesses, he added.
“In the first half of this year, the commercial sector of TEDA has ushered in a number of major projects, and the momentum of investment is encouraging,” Xu Qifeng, executive director of Egypt-TEDA Investment Company, which is responsible for the operation of the zone, told Xinhua.
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