SCZONE, ‘Ebda’ cooperate to boost investment, industry localisation
Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), and Amani Eid, the head of the National Initiative for Developing Egyptian Industry “Ebda” (Start), signed a cooperation protocol to support investment and localise industry.
Under the protocol, the SCZONE and Ebda coordinate to support the investment climate in the authority and promote its incentives, activate an integrated framework to find solutions for investors and facilitate the use of these incentives.
The protocol also includes benefiting from Ebda’s technical schools to train talents and work together to integrate supply chains through the authority’s existing projects and projects to which Ebda contributes.
Both parties have agreed to activate digital platforms with the aim of providing a database for industrial companies operating in Egypt. This aims to achieve industrial networking and integration and improve the business environment. They will also communicate with all initiatives undertaken by state agencies and relevant civil society institutions to make the best out of this protocol.
Gamal El-Din said that the SCZONE is keen on combining efforts with various national and international institutions, to support its localization-focused vision in the 21 targeted sectors.
He pointed out that SCZONE pays great attention to qualifying employees working in the authority to improve the services provided to investors, in addition to strengthening partnerships in the technical labour training sector by establishing training centres and specialized technical academies in cooperation with success partners. This provides job opportunities in advanced technology sectors, especially the green energy sector.
He pointed to the continuous promotional efforts made by the authority to attract investments from various countries in the sectors targeted for localization.
Gamal El-Din stressed the role of state institutions in supporting these efforts with the aim of enhancing exports and transferring advanced industrial technologies, especially in industries of strategic importance to the Egyptian state, such as the electric car industry, the active ingredient of medicines, green fuel and its feeding industries.
For her part, Amani Eid pointed out that the Ebda initiative works primarily to support and deepen national industries to rely on local products and reduce imports, by adding new investments to the industrial sector.
She stressed that this protocol comes within the framework of the Ebda initiative’s efforts to achieve integration and enhance various means of cooperation with all parties and institutions concerned with the field of industrial development in Egypt.
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