Sunday 22 Dec
Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone Authority, witnessed the groundbreaking ceremony for the Henneway Chinese Company project today, Sunday, in the Qantara West industrial zone. The company, specializing in travel luggage manufacturing, will establish its factory on a 120,000-square-meter site with a total investment of $50 million, creating 3,000 jobs.
The ceremony was attended by Hailong Wu, Chairman of Henneway Company, Liu King Zhao, Commercial Counselor at the Chinese Embassy in Cairo, the Deputy Governor of Ismailia, the Member of Parliament representing the Qantara area, and senior Authority officials.
Walid Gamal El-Din emphasized
that the Qantara West industrial zone embodies the Egyptian state's strong
commitment and the Suez Canal's economic vision. Through infrastructure
improvements and a favorable investment climate, the zone has been developed to
include nine projects in its first phase, covering various sectors such as
textiles, spinning, ready-made garments, medical devices, sportswear, and food
industries, alongside the luggage project. Six of these projects have been
contracted in recent times, with a combined investment of $271 million across
614,000 square meters, generating over 12,000 jobs. The remaining three
projects are currently under contract negotiation.
He highlighted that the Henneway
project further strengthens the robust cooperation between the Suez Canal
Economic Zone and Chinese investments, which now exceed $3 billion. This
project presents a significant opportunity to solidify the region's position as
an industrial and commercial hub in this sector. Moreover, it will create 3,000
new jobs, aligning with the Suez Canal Economic Zone's primary development
objective
Hailong Wu explained that he
first learned about the Suez Canal Economic Zone during his meeting with the
Authority Chairman in China in October 2023. This meeting prompted him to visit
Egypt, personally assess the economic zone, and subsequently sign the project
contract in December 2023. Wu emphasized that the economic zone's strong
support, coupled with attractive investment incentives and international
agreements, significantly encouraged the company to swiftly commence this
project. He stressed the importance of continued collaboration among all
stakeholders in the upcoming construction phase, expressing confidence that the
project will achieve its desired outcomes with the ongoing support of the Suez
Canal Economic Zone.
The Chinese Henneway Company is a global leader in luggage manufacturing, boasting a clientele that includes major brands such as Samsonite, Delsey, Swiss Gear, and Travelite. The project is slated to commence in January 2025, with operational activities anticipated to begin in December 2025.
