Nanxun District Holds a Special Promotion Conference for Egypt's Suez Economic and Trade Cooperation Zone

On the afternoon of July 21st, Nanxun District held a special promotion meeting for the Suez Economic and Trade Cooperation Zone in Egypt. The meeting invited Xin Gang, Deputy Researcher of the Foreign Economic Affairs Department of Tianjin Municipal Bureau of Commerce, Wei Jianqing, Deputy General Manager of China Africa Teda Investment Co., Ltd., Si Weiyu, General Manager of Zhejiang Linyun Technology Co., Ltd., and leaders of 32 foreign economic and trade enterprises with foreign investment intentions, including Caidie Industry and Senhe Elevator in Nanxun District, to attend the meeting.

At the meeting, Si Weiyu, General Manager of Zhejiang Linyun Technology Co., Ltd., gave a detailed introduction to the participating enterprises on the specific situation of the Suez Economic and Trade Cooperation Zone in Egypt from the aspects of location advantages, park layout, business environment, and investment models. The China Egypt Teda Suez Economic and Trade Cooperation Zone is a national level overseas trade cooperation zone established under the joint attention of the leaders of China and Egypt. After 15 years of development, the cooperation zone has now become an important platform for China Egypt trade cooperation. As of now, the cooperation zone has attracted nearly 140 enterprises to settle in, with a municipal investment amount of over 1.6 billion US dollars, immediate sales exceeding 3.5 billion US dollars, paid taxes exceeding 200 million US dollars, and created approximately 50000 jobs. Si Weiyu sincerely invited foreign economic and trade enterprises from Nanxun District to invest and build factories in the Suez Economic and Trade Cooperation Zone in Egypt.



The foreign economic and trade enterprises in Nanxun District have developed a strong interest in the Suez Economic and Trade Cooperation Zone in Egypt. The leaders of enterprises such as Caidie Industry and Hengda Fuji have had discussions with the leaders of China Africa Teda Investment Co., Ltd. regarding local investment policies in Egypt and difficulties in building factories in Egypt. The enterprises have expressed that they will further analyze the feasibility of investment in Egypt based on the actual situation, We will consider entering the Suez Economic and Trade Cooperation Zone in Egypt in the later stage.



In recent years, influenced by multiple environmental factors such as globalization and trade frictions between China and the United States, Nanxun enterprises have gradually accelerated their pace of foreign investment and opened up overseas markets under the guidance of the "going global" strategy. However, there is significant pressure for individual enterprises to open factories abroad, which is hindered by racial discrimination, xenophobia, unfriendly policies, and language barriers. Previously, multiple enterprises in the area expressed the hope that the government could organize enterprises with intentions to invest abroad to "group together and go out", increasing corporate confidence. Therefore, the special promotion meeting of the Suez Economic and Trade Cooperation Zone in Egypt is a good opportunity for foreign economic and trade enterprises in Nanxun District. Next, Nanxun District will learn and absorb the experience of China Africa Teda Investment Co., Ltd. in building a park platform in Egypt, and attempt to establish a Nanxun Enterprise Park in Egypt based on Zhejiang Caidie Industrial Co., Ltd., to help more local enterprises interested in investing "go global" and seek new opportunities.