Egypt Courts Thai Investors for Suez Canal Economic Zone

FTZ News: Egyptian Foreign Minister Badr Abdelatty met Thai Industry Minister Varawut Silpa-archa on Monday at the start of his visit to Thailand. According to Ahram Online, the talks covered trade, investment and joint manufacturing, with attention to rubber, petrochemicals and tyres.

It was the first Egyptian foreign minister visit to Thailand in 30 years. Abdelatty pointed to the Suez Canal Economic Zone as a possible site for Thai production aimed at export markets. He noted the zone’s industrial land, ports and logistics services, along with Egypt’s free-trade agreements. He also mentioned an existing Thai investment in the zone. The zone contracted 117 new projects worth about $7.3 billion in the fiscal year that ended in June 2026. Separately, it has a $190 million agreement with China’s Chaoyang Langma Tire for a planned tyre complex.

The visit includes the third meeting of the two countries’ joint ministerial committee. Egypt and Thailand established diplomatic relations in 1954. Silpa-archa said Thailand was looking at more industrial and trade work with Egypt, including inside the zone. No new Thai investment commitments were announced.Egypt wants the Suez Canal Economic Zone to attract more Thai manufacturers. So far, the clearest example is Hi-Tech Apparel’s $20 million sportswear factory in West Qantara, the first Thai industrial project announced for the zone. In March, the company said the factory’s first phase was scheduled for completion in May 2026. Its current website lists Egypt among its production locations, though a more recent announcement confirming the phase’s completion was not found.
The zone signed 117 projects worth about $7.3 billion in the fiscal year ended June 2026. The total shows the scale of contracted investment, but does not reveal how much came from Thai companies or how the money was distributed by nationality and industry. The talks with Bangkok have so far produced no announced new Thai investment commitment. Whether they lead to another factory will be a clearer measure of progress than the meeting itself.