CAIRO, May 13 (MENA) - Prime Minister Mostafa Madbouli affirmed that the Suez Canal Economic Zone (SCZONE) is a key magnet attracting global investments due to its competitive advantages including its strategic geographic location, ports overlooking the Mediterranean and the Red Sea and affiliated to industrial zone serving global trade and supporting logistical activities and services.

During the inauguration of the expansion project of the Turkish company "Hayat Egypt for Hygienic Products" Tuesday, at the end of his visit to the SCZONE, the prime minister said SCZONE also offers a trained workforce, as well as an integrated national network of roads and tunnels implemented by the State, with a view to connecting the east and west of the zone to support development in Sinai and the Canal cities.

Madbouli pointed out to the diversity of flowing investments from the various countries, along with the diverse industrial and logistical sectors, targeting about two billion consumers globally.

Thanks to free trade and international agreements, exports were able to access the various markets, he said.

The Hayat Egypt for Hygienic Products produces tissue paper from non-woven materials, located within the scope of the industrial developer "Orascom Industrial Zones" in the Sukhna Industrial Zone, affiliated with the SCZONE, said the premier.

Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el-Wazir, Minister of Housing, Utilities and Urban Communities Sherif el-Sherbini, Governor of Suez Tareq el-Shazly, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE) Walid Gamal el-Din, Turkish ambassador to Cairo Salih Mutlu Şen, Vice President of Hyatt Egypt for Africa and the Middle East Vedat Yıldırım accompanied the prime minister during the inauguration ceremony.

The SCZONE chairman said Hyatt Egypt's expansion with the opening of a new factory for the production of non-woven tissue paper in the integrated Sokhna area of ​​the SCZONE reflects the success of its partnership with the economic zone and the industrial developer Orascom Industrial Zones. He highlighted constant commitment of the SCZONE's general authority to continue providing support to its investors and success partners, including industrial developers and operators at the general authority's ports.

Gamal el-Dine highlighted ongoing efforts to digitize investor services, whether through a one-stop shop or customs services and procedures, through the recently inaugurated Economic Zone Logistics Center.

According to the prime minister all efforts would help serve the general authority's strategic vision based on providing an attractive investment climate supported by financial and non-financial investment incentives offered to investors.

During his tour of the factory, Madbouli listened to an explanation from Hayat Egypt officials. They said it spans over a total area of ​​21,000 square meters, with investments amounting to dlrs 60 million (nearly EGP 3 billion) and provides about 200 direct job opportunities, with annual production capacity of 60,000.

Meantime, Madbouli and his entourage inspected the preparation area and the control room for the main machine, the packaging machine and the factory's products.

The company owns an existing sanitary products factory in Sokhna Industrial Zone, within the scope of the Orascom Industrial Zones industrial developer.

The factory spans an area of ​​400,000 square meters, with investments exceeding EGP 330 million. It provides 450 direct job opportunities. The company's total investments, including the new expansions, amount to EGP 3.33 billion, providing about 650 total job openings. (MENA)

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