Investors from the Chinese textile industry have committed to investing in Egypt’s Suez Canal Economic Zone (SCZone). This was announced by Ahmed Darwish, head of the Suez Canal Economic Zone (SCZone) at the Belt and Road Industrial and Commercial Conference. Among the many Chinese investors is Jushi, a major Chinese producer of fibre glass.
The Belt and Road initiative is an effort to revive the ancient trade route known as the Silk Road and in the process, connect China and countries in Asia, Africa and Europe and is a pet project of Chinese premier Xi Jinping.
The first round of the annual Belt and Road Industrial and Commercial Conference was organised by the Egyptian Businessmen’s Association and the China Federation of Industrial Economics.