• Advertise
  • Privacy & Policy
  • Contact
Friday, July 18, 2025
itida
Egyptian Gazette

Editor-in-Chief

Mohamed Fahmy

Board Chairman

Tarek Lotfy

  • HOME
  • EGYPT
    • Local
    • Features
  • World
    • National Day
  • Technology
  • BUSINESS
    • Real Estate
    • Automotive
  • SPORTS
  • ENTERTAINMENT
    • Arts
    • Health
    • Lifestyle
    • Travel
  • Skyward
    • Flight schedules
    • EgyptAir booking
    • Snippets from EgyptAir history
    • EgyptAir history
    • Your Shipment On Time
    • Discover the World of Shopping
  • MORE
    • Multimedia
      • Video
      • Podcast
      • Gallery
    • OP-ED
No Result
View All Result
  • HOME
  • EGYPT
    • Local
    • Features
  • World
    • National Day
  • Technology
  • BUSINESS
    • Real Estate
    • Automotive
  • SPORTS
  • ENTERTAINMENT
    • Arts
    • Health
    • Lifestyle
    • Travel
  • Skyward
    • Flight schedules
    • EgyptAir booking
    • Snippets from EgyptAir history
    • EgyptAir history
    • Your Shipment On Time
    • Discover the World of Shopping
  • MORE
    • Multimedia
      • Video
      • Podcast
      • Gallery
    • OP-ED
No Result
View All Result
Egyptian Gazette
No Result
View All Result
Home Egypt

Gov’t okays draft decision to establish private free zone under name “Suez Canal Company for Modern Boats”

by Gazette Staff
April 18, 2024
in Egypt
Gov't okays draft decision to establish private free zone under name "Suez Canal Company for Modern Boats" 1 - Egyptian Gazette
Share on FacebookWhatsapp

The Cabinet approve during a meeting Thursday headed by Prime Minister Mostafa Madbouly a draft decision to establish a private free zone under the name “Suez Canal Company for Modern Boats,” (S.A.E.).

The company is to be set up on an area of ​​51,150 square meters, located in kilometer 8 south of Safaga, next to the South Red Sea Shipyard (SRSS) Company, from the western side to operate in the field of manufacturing and maintenance of yachts and maritime units, with commitment to obtaining all licenses and approvals from competent authorities.

The project aims to manufacture, maintain and export marine yachts on a global scale comparable to European and international arsenals, in a way that contributes to placing Egypt on the global map of the yacht industry, with a view to prospected yielding financial returns in foreign currency, along with its clear positive impact on upping rate of employment and intensive training of workers.

The draft decision stipulated that the company would commit to exporting no less than 100% of its annual production volume outside the country and would also commit to incorporating local component in its products at a rate of no less than 50% within a maximum period of three years from the date of start of operation.

Tags: BoatsDecisionFree zonegovernmentSuez CanalTop_News

Discussion about this post

ADVERTISEMENT
egyptian-gazette-logo

The Egyptian Gazette is the oldest English-language daily newspaper in the Middle East.
It was first published on January 26, 1880 and it is part of El Tahrir Printing and Publishing House.

Follow Us

Gazette Notifications

Would you like to receive notifications on our latest news ?

  • Advertise
  • Privacy & Policy
  • Contact

Copyrights for © Egyptian Gazette - Administered by Digital Transformation Management.

No Result
View All Result
  • HOME
  • EGYPT
    • Local
    • Features
  • World
    • National Day
  • Technology
  • BUSINESS
    • Real Estate
    • Automotive
  • SPORTS
  • ENTERTAINMENT
    • Arts
    • Health
    • Lifestyle
    • Travel
  • Skyward
    • Flight schedules
    • EgyptAir booking
    • Snippets from EgyptAir history
    • EgyptAir history
    • Your Shipment On Time
    • Discover the World of Shopping
  • MORE
    • Multimedia
      • Video
      • Podcast
      • Gallery
    • OP-ED

Copyrights for © Egyptian Gazette - Administered by Digital Transformation Management.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.