In a boost to Egypt’s industrial landscape, the foundation stone for the High Tech North Africa Factory for Sportswear was laid yesterday in Qantara West. This marks the first Thai investment in the Suez Canal Economic Zone (SCZone), signaling a promising era of international collaboration. The project, spearheaded by Walid Gamal El-Din, Chairman of the General Authority of the Suez Canal Economic Zone, and Ismailia’s Governor, Major General Akram Galal, is set to transform the region.
The new factory, covering 64,000 square meters, represents a significant $20 million investment from Thailand. It is expected to generate approximately 2,000 direct job opportunities, with an annual production capacity of six million garments aimed at satisfying global market demands.
Wahun Vitana Kurth, CEO of Hi-Tech Thailand, and Newath Amichar Tiputra, Thailand’s Commercial Attaché in Egypt, were key attendees at the ceremony, emphasizing the strategic importance of this venture. The event was also graced by various economic leaders from both the Suez Canal and the Thai Embassy in Cairo, underscoring the bilateral commitment to economic growth.
On the sidelines of the event, Walid Gamal El-Din expressed optimism about the Suez Canal Economic Zone becoming a hub for Thai investments: “This initiative is a testament to the zone’s ability to attract significant global investments across diverse sectors.”
According to Dr. Ahmed El-Sayed, an international trade expert at Cairo University, “This Thai investment not only enhances the economic ties between Thailand and Egypt but also positions the Suez Canal Economic Zone as a critical player in the global supply chain. The factory’s output will significantly contribute to the region’s economic diversification.”
The establishment of the High Tech North Africa Factory for Sportswear is a milestone in Egypt’s economic development. This venture is expected to attract further international investments, fostering economic growth and job creation.
Sources close to the project have revealed that this initiative could pave the way for more Thai companies to venture into Egypt’s economic zones, potentially leading to an increase in bilateral trade agreements and further strengthening economic relations.
