Suez Canal Economic Zone (SCZone) has signed a land usufruct agreement with Jiangsu Guotai to build a $10 million ready-made garment (RMG) factory in Qantara West, creating 2,000 jobs.
With 80 per cent of production destined for Europe and the US, the region is set to become a major exporter.
SCZone has also launched five new projects.