Sigma Capital

27-07-2025

A delegation from the Suez Canal Economic Zone (SCED) visited China to discuss the acquisition of a bank in Egypt

Source: MIST

Youm7-


The Suez Canal Economic Zone's promotional tour to China last week revealed that it is studying a proposal for a Chinese bank to acquire a bank operating in the Egyptian market. This proposal would provide customized banking services to Chinese investors operating within the TEDA zone or other industrial zones in Egypt, facilitating transactions and supporting investment activities within the zone.

This came during the Suez Canal Economic Zone's promotional tour to China, which concluded last week. During the tour, the delegation met with several officials from Tianjin Province. The visit included several official meetings with senior representatives from the Binhai New Area, TEDA Investment Holding Group, Tianjin Port, and the Free Trade Zone.

The meetings reviewed areas of joint cooperation and discussed future plans to enhance Chinese investments within the Suez Canal Economic Zone. The meeting witnessed fruitful discussions on several key topics, including: Discussions included the possibility of allocating a new area of 10 square kilometers for TEDA Group development within the economic zone, following the near completion of the development of the previous three phases, the last of which was the third phase, covering an area of 2.8 square kilometers. The second axis addressed opportunities for cooperation in the port sector, with Tianjin Port officials expressing great interest in learning about the capabilities of the authority's ports, especially East Port Said Port after its recent development. It is proposed to send a technical delegation in the coming period to visit the ports of East Port Said and Sokhna and discuss areas of cooperation.

The economic zone delegation participated in a high-level meeting that included leaders of the agencies concerned with economic development in the Tianjin region, attended by Shan Zifeng, Deputy Secretary of the Communist Party of China Committee of Binhai New Area and Governor of the Binhai New Area Government, and Zhou Defu, Chairman of the Board of Directors of TEDA Investment Holding Co., Ltd.

During the meeting, Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone, praised the close economic relations between Egypt and China, stressing that the Tianjin region represents a global model for developing economic zones. He also noted that the Suez Canal Economic Zone is an integrated industrial and logistics platform overlooking the world's most important shipping lanes, and a promising destination for Chinese investments, given its strategic location, advanced infrastructure, and flexible investment procedures. He noted that TEDA's expansions represent the success of the Egyptian-Chinese partnership model within the economic zone and confirm both sides' efforts to double the number of Chinese companies operating within the authority's jurisdiction in the coming period, particularly in priority industrial sectors. Following the meeting, the delegation headed on a field visit to Tianjin Port, one of the largest hub ports in China and the world, located in the Binhai New Area of Tianjin City, adjacent to the capital of the People's Republic of China. It serves 14 provinces, cities, and autonomous regions, and represents a hub linking Northeast Asia with West Central Asia. It handles more than 20 million TEUs and approximately 450 million tons of cargo annually, and is ranked among the top ten ports in the world in terms of productivity and efficiency. The tour included an overview of the integrated operating system and the technologies used in managing maritime traffic and supply chains.