Wedoany.com Report-Dec.29, Recently, the Suez Canal Economic Zone in Egypt officially signed an investment agreement with China's Ningbo Dashun Fur Co., Ltd., marking the official establishment of this leading Chinese enterprise with 27 years of deep expertise in the field of microfiber materials in the West Qantara Industrial Zone, Ismailia Governorate. The company will invest in constructing a high-standard microfiber textile production base.

The signing ceremony was held at the headquarters of the New Administrative Capital Economic Zone in Egypt. Walid Gamal El Din, Chairman of the General Authority for the Suez Canal Economic Zone, and Mao Yuejun, Chairman of Ningbo Dashun Fur Co., Ltd., signed the agreement on behalf of both parties. Multiple senior executives from both sides witnessed this important moment.

At the signing ceremony, Chairman Walid Gamal El Din stated that the West Qantara Industrial Zone is accelerating its efforts to build a high-standard textile manufacturing center. The establishment of this Chinese-funded enterprise represents another significant achievement for the Economic Zone in attracting companies across the entire textile and material technology industry chain.

Currently, the Economic Zone has comprehensively upgraded the infrastructure and supporting service capabilities of West Qantara, making it a strategic platform for the agglomeration and development of the textile, apparel, and food processing industries in the region. The efficient linkage between the port cluster and the industrial zone has become a core competitive advantage in attracting global investors.

It is reported that the total investment for this project reaches $40 million, covering a land area of 100,000 square meters. Upon completion, it is expected to create 500 direct local jobs. Leveraging the unique geographical advantage of the linkage between the port area and the industrial zone within the Suez Canal Economic Zone, the project's products will reach the vast markets of the Middle East, Africa, and Europe.

In recent years, due to its superior location, cost advantages, and policy benefits, Egypt has become a core destination for Chinese textile enterprises in their global expansion. Several leading companies such as Xin Feng Ming, Jasan Group, and Luthai Textile have successively established operations there, with investment scales ranging from several million to several hundred million US dollars, covering the entire industry chain including spinning, weaving, dyeing and finishing, garment making, and home textiles.