Chairman of the Suez Canal Economic Zone (SCZone), Walid Gamal El-Din, participated in the groundbreaking ceremony for the FBB Tech Electronics project. This venture, a collaboration between the Chinese FBB Holding and Hisense, a leading Chinese electronics company, is located in the industrial zone of Sokhna, within the Teda-Egypt development area. The project has an investment value of $38 million, occupying a space of 110,000 square meters. It aims to produce 1 million units annually and will create 337 job opportunities.
During the event, Mr. Gamal El-Din highlighted that the strategic location within the Sokhna industrial zone guarantees integrated infrastructure and an environment conducive to the highest production standards. Additionally, the zone’s proximity to various ports within the economic area provides seamless access to international markets. He further emphasized that the SCZone continues to provide a favorable investment climate, pointing out that there are currently 120 factories under construction within the zone, an unprecedented rate that reflects the growing confidence of investors in the zone’s economic potential.
Mr. Gamal El-Din noted that the FBB Tech Electronics project is a testament to Egypt’s commitment to sustainable development and driving investments in vital sectors such as electronics and electrical appliances. The project is expected to produce 1 million units annually, with 30% of production destined for the local market and 70% for export to Europe, North, and East Africa. He also highlighted the growing collaboration with Chinese investments, which aim to increase Egypt’s production capacity and expand its export base to global markets, marking the project as a successful partnership between the SCZone, Emirati investments, and Chinese expertise.
Mr. Cao Hui, the Managing Director of Teda-Egypt, also addressed the gathering, stating that the FBB Tech project marks a new phase in the economic cooperation between China and Egypt. He expressed that, with the strong support from both the Egyptian and Chinese governments, Teda-Egypt has been able to establish a thriving industrial cluster that now includes around 180 companies with investments exceeding $3 billion. This cluster spans various industries, including construction materials, textiles, home appliances, solar energy, automobiles, and chemicals, becoming a prominent example of Sino-Egyptian collaboration and a model for economic cooperation between China, Egypt, and the Arab and African regions.
Mr. Wael Amer, a representative from FBB Holding, also shared his enthusiasm about the project, expressing gratitude for the support received and highlighting the importance of the project, which combines Arab investments and the advanced technology of Hisense, one of the top 10 global companies in television and screen production.
Founded in 2019 and headquartered in Dubai, FBB Holding is a leading global commercial company with a successful track record and operates across various sectors in countries such as Belgium, Germany, Libya, Egypt, Cyprus, Jordan, Bahrain, and the UAE.
