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Egypt's SCZone secures $1.07b investmens at Beijing forum
Published in Amwal Al Ghad on 08 - 09 - 2024

div class="content user-select-text" tabindex="0" aria-description="" aria-label="Sent by Copilot: **EU Allocates €1.3 Million to WHO Europe for Nurse Retention** The European Union has signed a €1.3 million agreement with the WHO Regional Office for Europe (WHO Europe) to help retain nurses and make the profession more attractive. Funded by the EU4Health programme, this 36-month initiative will focus on countries with significant nurse shortages. Stella Kyriakides, Commissioner for Health and Food Safety, highlighted the importance of nurses, stating, "Nurses are the backbone of our health systems and are critical in ensuring that patients receive high-quality, professional care when they need it." The funding will support recruitment action plans, mentoring programmes, workforce impact assessments, and training opportunities. These efforts aim to address structural shortages, improve nurse wellbeing, and leverage digital transformation in healthcare. The initiative will be tailored to national and sub-national needs through cooperation with Member States, nurses' organisations, and social partners. --- Would you like more details on any specific aspect of this initiative?"
div class="content user-select-text" tabindex="0" aria-description="" aria-label="Sent by Copilot: **Turkey Seeks BRICS Membership to Expand Global Influence** Turkey has formally applied to join the BRICS group of emerging-market nations, aiming to enhance its global influence and establish new ties beyond its traditional Western allies. President Recep Tayyip Erdogan's administration views the geopolitical center of gravity as shifting away from developed economies. This diplomatic push reflects Turkey's aspirations to cultivate relationships in a multipolar world while maintaining its commitments as a key NATO member. Frustrated by the lack of progress in its bid to join the European Union, Turkey submitted its BRICS application months ago. The move also stems from rifts with NATO members after Turkey maintained close ties with Russia following its 2022 invasion of Ukraine. Erdogan emphasized the importance of balancing relations with both the East and the West, stating, "Turkey can become a strong, prosperous, prestigious, and effective country if it improves its relations with the East and the West simultaneously." The BRICS group, which includes Brazil, Russia, India, China, and South Africa, recently expanded to include Iran, the UAE, Ethiopia, and Egypt. Further enlargement, potentially including Turkey, may be discussed at a summit in Kazan, Russia, from October 22-24. BRICS positions itself as an alternative to Western-dominated institutions like the World Bank and IMF, offering new members access to financing and broader political and trading relationships. Turkey believes BRICS membership could enhance economic cooperation with Russia and China and position it as a trade conduit between the EU and Asia. Despite this, Turkey continues efforts to rejuvenate EU membership talks, which remain a strategic target. Foreign Minister Hakan Fidan highlighted the importance of BRICS in diversifying global economic approaches and identities. --- Would you like more details on any specific aspect of Turkey's BRICS application or its broader diplomatic efforts?"
Egypt announced several major investments totalling over $1.07 billion to be developed within the Suez Canal Economic Zone (SCZone). The agreements announced during the Forum on China-Africa Cooperation held in Beijing include the following:
Glass Manufacturing Plant: A partnership between Teda-Egypt and China Glass Holding to establish a glass factory with two production lines. The first line is designed to produce 800 tons of float glass per day, while the second line shall produce 800 tons of ultra-clear glass per day. The plant will produce 240,000 tons of high-quality glass and 230,000 tons of photovoltaic glass per year.
The $300 million project is expected to create 800 jobs and cater to local market as well as markets of North Africa, the Middle East, and Europe, with export revenues projected at $120 million annually.
Chlor-Alkali Production: Teda-Egypt and Binhua (Befar) Group have signed a $500 million lease for a chlor-alkali production facility with a 100,000-ton capacity and 795 jobs created. It will be Egypt's first green chemical plant, using wind, solar, electricity, and natural gas for steam production.
Solar Cell Production: Elite Solar will build a factory to produce 2 gigawatts of N-type solar cells on a 77,000-square-metre site, with a $100 million investment aiming to address gaps in the photovoltaic sector and attract industrial clusters.
Starch Production: Dahui Glucose & Tiba Starch will set up a factory to produce modified starch, with an initial annual output of 20,000 tons and potential future expansion to 50,000 tons. The $7.5 million project will provide 156 jobs.
Home Appliance Supply Chain: Kaks Investment will develop a support zone for home appliance manufacturing, including component manufacturing, storage, and distribution services, on an 80,000 square metre area, with a $50 million investment.
These initiatives are part of Egypt's strategy to boost industrial growth and integrate advanced manufacturing within the Suez Canal Economic Zone.
Attribution: the Egyptian Cabinet
Subediting: M. S. Salama


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