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TEDA Cooperation Zone selected as innovative case for B & R construction 2017

2017-12-25 18:29

The 2017·Belt and Road Innovative Construction Cases solicited by the 21st Century Business Herald announced recently that the China-Egypt TEDA SUEZ Economic and Trade Cooperation Zone was named an Annual Innovative Case of Investment Management by the Belt and Road International Capacity Cooperation Zones in 2017.

Egypt is a pivotal country along the Belt and Road Initiative and is an important part of the 21st Century Maritime Silk Road. In 2015, the Egyptian government put forward the economic development strategy of "rejuvenating the Suez Canal Corridor" and vigorously promoted the process of industrialization in Egypt. Under this background, the Egyptian-TEDA Suez Economic and Trade Cooperation Zone, as a state-level overseas economic and trade cooperation zone approved by the Chinese government, became an important platform for cooperation in energy production between China and Egypt.

The organizing committee believes that the Sino-Egyptian TEDA SUEZ Economic and Trade Cooperation Zone, as a sample project of "TEDA Model", has made innovative efforts in exploring and practicing the development of overseas industrial parks. In view of this, it approved it as an Annual Innovative Case of Investment Management by the Belt and Road International Capacity Cooperation Zones in 2017.

The Egyptian-TEDA Suez Economic and Trade Cooperation Zone is an exemplary project that our country integrated into the Belt and Road Initiative earlier with major results achieved. After nearly 10 years of construction efforts, the China-Egypt TEDA-Suez Economic and Trade Cooperation Zone has been working together with the governments of China and Egypt. Under the impetus, the project attracted investment of nearly 1 billion U.S. dollars and about 70 enterprises settled in. It has become a model for "going global" under the Belt and Road Initiative proposed by China's industrial parks and has set a good platform for Chinese enterprises to "go global". 

The Egyptian-TEDA Suez Economic and Trade Cooperation Zone is a national-level foreign trade and economic cooperation zone accredited by the Ministry of Commerce. It aims to promote capacity-building in China and Egypt and is jointly funded by Tianjin TEDA Holding and China-Africa Fund. Geographically, this Cooperative Zone is located at the southern mouth of the Suez Canal on the west bank of the Red Sea, close to Inhahane Harbor and Suez provincial capital, and is 120 km from Cairo.

The Cooperation Zone has formed the machinery manufacturing industry represented by Jiangsu Shepherd Group, the high and low voltage electrical appliances industry represented by the West Power Company, the oil and gas equipment industry represented by Sichuan Honghua and IDM, and opened a new situation of economic development of Egypt. The Zone has legal advisers, customs offices, banks, hotel apartments and other infrastructure facilities. Here, the Chinese companies going abroad for the first time do not have to experience the dilemma of "being unaccompanied and unmanageable."

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