The Suez Canal Economic Zone (SCZone) as an attractor of local and foreign investment deserves full support of the government.
This statement by Minister of Trade and Industry Ahmed Samir came during his meeting on Tuesday SCZone chairman Walid Gamal el-Din and his accompanying delegation.
The minister stressed the importance of developing the SCZoneas a distinct investment destination and a global commercial, industrial and logistical hub.
The government is devising more incentives and facilities for industry nationwide to increase gross domestic product and achieve sustainable economic development, the minister said.
The SCZone works hard to make the best use of the Suez Canal’s potentials and its environs to create investment opportunities in industrial and service sectors, the minister added, noting that this, in turn, will help boost export to global markets.
Talks also covered means to increase coordination between the Ministry of Trade and the SCZone to accelerate projects in the economic zone.
The minister was also briefed on SCZone strategy to attract more investments in industry, maritime and logistics services.
For his part, Gamal el-Din said Egypt has adopted a vision for transforming the zone into a regional hub for green energy industries.
Gamal el-Din added that the authority plans to localise industries in 15 sectors, notably solar panel manufacture and green fuel.
The SCZone chief spoke of a strategy for small and medium enterprises, and several mega-projects in the zone.
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