{"id":592421,"date":"2023-08-06T00:00:00","date_gmt":"2023-08-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/06\/sczone-gets-the-greenlight-to-set-up-investment-arm\/"},"modified":"2023-08-06T00:00:00","modified_gmt":"2023-08-06T00:00:00","slug":"sczone-gets-the-greenlight-to-set-up-investment-arm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/06\/sczone-gets-the-greenlight-to-set-up-investment-arm\/","title":{"rendered":"SCZone gets the greenlight to set up investment arm"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SCZone one step closer to launching investment arm:<\/strong> The Suez Canal Economic Zone (SCZone) has received cabinet\u2019s approval to set up a joint-stock investment company named SCZone Istithmar, according to a decision published in the Official Gazette on Thursday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company\u2019s role:<\/strong> SCZone Istithmar will strategically plan and manage the authority\u2019s current and future investments. It will also help establish industrial development and utilities companies that serve the SCZone in partnership with private investors, both local and international.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company has been in the works since at least last year: <\/strong>The SCZone in November announced <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26465b86-b938-46e3-a5e1-e5f157b9b72d\" style=\"\" rel=\"noopener\">plans<\/a> to establish an investment company as part of a package of measures designed to boost FDI inflows, explaining that the company would channel finance into projects being established in the zone.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SCZone Istithmar will manage the authority\u2019s investments<\/p>\n","protected":false},"author":1,"featured_media":592422,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[72,125,1350,11012,416],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-592421","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseam","tag-investment-watch","tag-madbouly-cabinet","tag-sczone-istithmar","tag-suez-canal-economic-zone","wpautop","entry"],"acf":{"mongo_id":"e8e527ee-b9a0-4d91-a8f7-1bc89fd7a494","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/208.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Egypt\u2019s SCZone gets the greenlight to set up investment arm","related_issue":[592412],"teaser":"SCZone Istithmar will manage the authority\u2019s investments","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.7d50881e-0fb3-4db1-a6a5-e99a4020bf8a.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The Suez Canal Economic Zone (SCZone) plans to establish an investment company to channel finance into projects being established in the zone, SCZone head Walid Gamal El Din said Saturday, without providing further information.This isn\u2019t the same thing as the Suez Canal Authority\u2019s new fund:\u2026","rel":"","context":"In &quot;Suez Canal&quot;","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/91.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567150,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/14\/egypt-to-create-investment-wing-for-sczone-zaki\/","url_meta":{"origin":592421,"position":1},"title":"Egypt to create investment wing for SCZone -Zaki","author":"enterpriseam admin","date":"14 January 2020","format":false,"excerpt":"Egypt to create investment wing for SCZone -Zaki: Egypt is looking into creating an investment and commercial arm for the Suez Canal Economic Zone (SCZone), Chairman Yehia Zaki said according to Reuters. \u201cWe\u2019d like to see a financial arm to this ... It can go into partnership with developers. It\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577863,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/07\/sczone-to-take-its-promo-campaign-to-japan-next-year\/","url_meta":{"origin":592421,"position":2},"title":"SCZone to take its promo campaign to Japan next year","author":"enterpriseam admin","date":"7 December 2022","format":false,"excerpt":"INVESTMENT- A promotional campaign by SCZone in Japan? A Japanese investment delegation has invited Suez Canal Economic Zone (SCZone) head Walid Gamal El Din to prepare a promotional campaign for the zone in Japan early next year, according to a SCZone statement.","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/133.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575681,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/22\/sczone-investor-incentives-could-be-ready-by-next-month\/","url_meta":{"origin":592421,"position":3},"title":"SCZone investor incentives could be ready by next month","author":"enterpriseam admin","date":"22 October 2020","format":false,"excerpt":"LEGISLATION WATCH- SCZone investment incentives could be ready by next month: A package of economic and regulatory incentives being prepared by the Suez Canal Economic Zone (SCZone) and the government to attract investors will be ready in a month, SCZone head Yehia Zaki said during a general assembly meeting with\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555908,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/03\/another-petchem-complex-in-the-sczone\/","url_meta":{"origin":592421,"position":4},"title":"Another petchem complex in the SCZone","author":"enterpriseam admin","date":"3 October 2021","format":false,"excerpt":"Anchorage Investments is looking to build a USD 2.5 bn petrochemical complex in the Suez Canal Economic Zone (SCZone), according to a company statement (pdf). The company will produce a range of petrochemical products and natural gas derivatives, including propylene and polypropylene, and will look to gradually increase the number\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/27.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598346,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/elsewedy-electric-to-establish-utilities-jv-with-sczone-authority\/","url_meta":{"origin":592421,"position":5},"title":"Elsewedy Electric to establish utilities JV with SCZone Authority","author":"enterpriseam admin","date":"22 May 2019","format":false,"excerpt":"INVESTMENT WATCH- Elsewedy Electric to establish utilities JV with SCZone authority: Elsewedy Electric has signed a partnership agreement with the General Authority of the Suez Canal Economic Zone (SCZone) to set up the Economic Zone Utilities Company, Elsewedy said in a bourse filing (pdf). 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