Egypt courts China for Suez special zone

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One of China’s premier investment zones is expected soon to replicate its successful development model near the southern approaches to the Suez canal, according to Egypt’s investment minister.

The Egyptian government is negotiating with the Tianjin Economic-Technological Development Area, which it is courting to help build the Suez Economic Zone. Under Egyptian law, TEDA could take up to a 49 per cent stake in the $1.5bn (€1.1bn, £1bn) project.

“SEZone is going to be the first of its kind linked to a big investor,” Mahmoud Mohieldin told the Financial Times in an interview. “The final negotiations will hopefully be taking place very soon.”