Egypt: SCZone launches 1st roadshow for FY2025/26 in China to attract major investments
The authority mainly aims to draw in investments in the fields of textiles, ready-made garments, automotive, ports, and logistics services.
During his tour, Waleid Gamal El-Dien, the Chairman of the SCZone, discussed Hong Kong-based Crystal International's plans to establish a textile factory on an area of 1.5 million square meters in the Qantara West zone, with expected investments ranging between $250 and $300 million.
The project is expected to offer job opportunities for 30,000-35,000 people.
The Chairman also inspected the Shenzhen Qianhai Exhibition Hall, hosted by the Qianhai Authority, to review the development projects in the Qianhai Special Economic Zone, which include industrial, logistics, and port-related activities.
He also visited the Yantian International Container Terminals, which is managed by the global operator Hutchison, the same operator of the Sokhna Port Container Terminal.
The terminal boasts a 1,200-meter quay length and a yard area of 720,000 square meters, with an investment cost of $250 million. It is expected to open soon.
The first day of the SCZone delegation's tour of Shenzhen concluded with a visit to BYD's headquarters, where they learned about the company's leading products in the electric vehicle (EV) industry.
BYD also specializes in the manufacture of electric car batteries, storage batteries, and solar panels.
Moreover, Gamal El-Dien met with the company's officials to discuss its presence in the SCZone as a gateway to reach African and Middle Eastern markets.
He emphasized that the company's investment in the zone will strengthen the establishment of a major industrial base, including the manufacture of EVs, electric car batteries, and solar panels.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
19 hours ago
- The National
Tesla ordered to pay $243 million in lawsuit over 2019 Autopilot crash
Tesla was ordered to pay $243 million in a lawsuit over the fatal 2019 Autopilot-equipped Model S crash, marking the first major court loss for Elon Musk's electric vehicle company concerning its driver-assistance technology. A jury in Miami federal court in Florida on Friday found that Tesla was responsible for about a third of the accident in the state that killed one pedestrian and seriously injured another when the Tesla Model S drove through a T-intersection and hit a parked car at 80.5kph. The jury assigned the remaining two-thirds to the driver, who was reaching for his mobile phone at the time of the crash. 'Today's verdict is wrong and only works to set back automotive safety and jeopardise Tesla's and the entire industry's efforts to develop and implement life-saving technology. We plan to appeal given the substantial errors of law and irregularities at trial,' Tesla said in a statement. Brett Schreiber, a lawyer for the plaintiffs, said after the verdict: 'Tesla designed Autopilot only for controlled-access highways yet deliberately chose not to restrict drivers from using it elsewhere, alongside Elon Musk telling the world Autopilot drove better than humans.' Mr Musk, the world's richest person, is Tesla's chief executive and majority Tesla shares fell 1.8 per cent at the market close on Friday, and are down 25 per cent this year. In the second quarter of 2025, Tesla said in its safety report that it recorded one crash for every 6.69 million miles driven in which drivers were using its Autopilot technology. For drivers who were not using Autopilot, it recorded one crash for every 963,000 miles driven. By comparison, the most recent data available from National Highway Traffic Safety Administration and Federal Highway Administration (from 2023) shows that in the US there was an car crash approximately every 702,000 miles. Tesla markets its automated driving systems under two brand names – Autopilot and Full Self-Driving. All new Tesla cars come with the Autopilot driver-assist feature as a standard option and the company sells the more advanced Full Self-Driving at a premium for an additional $10,000. Autopilot allows the car to steer, accelerate and brake automatically for other vehicles and pedestrians. Full Self-Driving offers more enhanced features such as auto-parking and automatic lane changes while driving on the motorway.
Zawya
a day ago
- Zawya
Ambassador Gao Wenqi Attends the Working Meeting between Leaders of Export-Import Bank of China and Ministry of Finance and Economic Planning of Rwanda
AFRICA On July 31, Ambassador Gao Wenqi attended the working meeting betweenYang Dongning, Vice Governor of Export-Import Bank of China and Hon. Yusuf MURANGWA, Minister of Finance and Economic Planning of Rwanda. Both sides exchanged views on promoting the trade, economic and financial cooperation between China and Rwanda. Distributed by APO Group on behalf of Embassy of the People's Republic of China in the Republic of Rwanda. Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an 'as is' and 'as available' basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release. The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk. To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages. © ZAWYA 2025
The National
a day ago
- The National
AI chip smuggling 'gets more airtime than it should', White House official says
The idea of high-performance AI chips being smuggled into potentially nefarious hands gets more attention than it should, a White House official has said. Michael Kratsios, who serves as director for the Trump administration's Office of Science and Technology Policy, said on Wednesday that there are a lot of misconceptions and misguided fears about the 'physical diffusion' of artificial intelligence technology developed by the US. 'We're not talking about like a bag of diamonds or something,' he said during a discussion at the Centre for Strategic and International Studies think tank about Mr Trump's recently announced AI Action Plan. Some politicians have expressed concerns about the potential for recently announced US AI partnerships overseas to be exploited by countries like China to try to acquire powerful American-made technology. 'These are like massive racks that are tonnes in weight and you're not going to put it on a forklift or back it into a truck, or something," he explained, adding that the idea of chip smuggling "probably gets more airtime than it should." Mr Kratsios also said the hypothetical scenario of the US partnerships with other countries leading to the misuse of data centres by countries like China for 'training runs' to access the centres was overblown. 'What you're most worried about is large-scale runs that are for training sophisticated models and those are actually pretty easy to flag,' he said, adding that the US will make sure to implement what's known in IT circles as Know Your Customer policies to prevent bad actors from gaining access to data centres powered by US technology. Mr Kratsios said that Mr Trump's predecessor, Joe Biden, put too many chip export restrictions on allies, and that the export of US technology to countries with peaceful AI aspirations was critical to an overall AI strategy. During Mr Trump's visit to the Gulf in May, he announced the US-UAE AI Acceleration Partnership framework that will eventually lead to the construction of a 5GW UAE-US AI Campus in Abu Dhabi. 'The [Biden administration] limits made no sense at all,' he said, referring to President Biden's policies aimed at limiting the powerful CPUs and GPUs available to certain countries. Those policies were largely aimed at preventing the diffusion of US technology to China. It proved controversial, with companies like Microsoft and Nvidia claiming the policies hurt US efforts more than helping. Some US AI companies like Anthropic, however, have sought to keep the export controls. 'In some cases, smugglers have employed creative methods to circumvent export controls, including hiding processors in prosthetic baby bumps and packing GPUs [graphics processing units] alongside live lobsters,' read an April policy letter from Anthropic. That letter later came under criticism over what some called the oversimplification of how AI data centres work. Regardless, in keeping with that theme of reversing the Biden export policy, the Trump White House recently announced plans that would allow for Nvidia to resume sales of its H20 graphics processing unit to China. That decision, however, has come under criticism from several technology analysts and politicians. A group of Democratic senators this week sent a letter to Commerce Secretary Howard Lutnick urging him to reverse course. At the CSIS event, Mr Kratsios said the concerns from Democratic senators were oversimplified, adding that the H20 was designed to comply with US concerns about giving China too much computing power, among other things. 'It's not a free-for-all sale,' he said, referring to White House's H20 announcement. 'Any sale that Nvidia wants to make to China is one that's going to require an export licence.' Mr Kratsios added that the Commerce Department's Bureau of Industry and Security would be evaluating each of those licence applications and 'weight the costs' before giving Nvidia approval.
