Hisense - Egypt, a company specialised in the manufacture of electrical appliances, today signed a contract with the Chinese industrial developer (TEDA - Egypt) in the Suez Canal Economic Zone (SCZone), where a project is being built in partnership with the UAE company FBB TECH on an area of 110,000 square metres, with a total investment of US$38 million and a production capacity of 2.5 million units; within the Sokhna Industrial Zone.

The signing ceremony, attended by Egyptian Prime Minister Dr. Mostafa Madbouly and Walid Gamal El-Din, head of the Suez Canal Economic Zone Authority (SCZone), Jason Ou, President of Hisense Middle East and Africa, and Cao Hui, executive director of Egypt-TEDA SEZone Development Company marks a significant step towards advancing Egypt's export goals, aiming to reach $100 billion by 2030.

In its first phase, the project aims to produce televisions, audio recorders, and monitors, which will be exported 30 percent to the local market and 70 percent to various countries in Europe, North and East Africa, and the Middle East.

The chairman of the SCZone highlighted that this agreement aligns with the Authority's dedication to supporting Egypt's export ambitions.

Gamal El-Din emphasised the strategic importance of SCZone's location within the Belt and Road Initiative, serving as a pivotal nexus connecting China with diverse global markets.