Egypt inaugurates 2 major Chinese, Turkish industrial projects in Ain Sokna

According to a statement by the Egyptian cabinet, the step came as part of Egypt’s broader strategy to localize industry and attract foreign investment.

PM Madbouly inaugurated the Chinese Xinxing ductile iron pipe factory, which includes $150 million in investments.

Moreover, he attended the inauguration of a $60 million expansion by Turkish hygiene products manufacturer Hayat Egypt. 

The visit also included the signing of multiple investment agreements.

The prime minister was accompanied by top officials, including Deputy Prime Minister for Industrial Development Kamel El-Wazir and SCZone Chairman Walid Gamal El-Din.

“The Suez Canal Economic Zone is a cornerstone of Egypt’s economic development strategy,” Madbouly said during his tour.

He stressed the critical need to attract foreign direct investment and create integrated industrial communities that generate jobs and support sustainable development.

Furthermore, Madbouly affirmed the importance of strategic partnerships with the private sector to accelerate industrial growth.

“We are committed to localizing key industries that reduce our import bill and meet national needs,” he said.

“This is not just about factories, it’s about building a competitive industrial base that supports exports and technological advancement,” the prime minister concluded.

Meanwhile, Gamal El-Din highlighted that over 130 projects are currently under construction across SCZone areas.

He also emphasized the authority's success in attracting investments across 21 target sectors.