Egypt’s Suez Canal Economic Zone (SCZone) and its Polish counterpart have signed an agreement for the creation of a Polish industrial zone in Egyptian town Ain Sokhana, while Russia’s industrial zone in Egypt proceeds.
Governed by the General Authority for the Suez Canal Economic Zone, an autonomous body, SCZone is intended to encourage the development of new and existing businesses and support investors, to help improve the economy and create new jobs.
SCZone aims to realise the full potential of the Suez Canal. Yehia Zaki, the organisation’s head, and the president of the Katowice Special Economic Zone, Janusz Michalek, signed the agreement in front of the Polish deputy foreign minister Paweł Jabłoński and other Polish government officials, on 8 June.
The Polish economic zone in Egypt will leverage a space ranging between 400,000 and 1,000,000 square metres. It intends to focus on the food and electronic sectors and auto spare parts industries in Ain Sokhana, which is located about 120 kilometres east of Cairo, Egypt’s capital city.
SCZone’s agreement with its Polish counterpart in Katowice has come at around the same time as an announcement by SCZone that approximately 1,000,000 of a total 5,250,000 square metres granted to over 32 Russian companies has been completed and equipped, representing 20% of Russia’s industrial zone in Egypt.