We aim to increase investments in the Suez Canal to 55 billion dollars by 2020

We aim to increase investments in the Suez Canal to 55 billion dollars by 2020

March 11, 2019
The chairman of the Suez Canal Authority and chairman of the General Authority for development of the Suez Canal economic zone, Mohab Mameesh said that the total investments in the Suez Canal economic zone amounts to 25 billion dollars, aiming to reach 55 billion dollars by 2020.

 


On Monday Admiral Mohab Mamesh pointed out that the iron and steel sector is first place with 10% of the total investments during the Egyptian-Japanese Business Forum.

Mameesh announced the Authority’s intention to carry out a promotional campaign to promote investments in Egypt. The campaign is scheduled to travel to China and India to involve all countries of the world and invite investors to Egypt.

He stressed that the Authority and the Japanese delegation which is currently visiting Egypt discussed the launch of investments in Egypt and the establishment of a Japanese industrial zone in the economic zone, especially as Japanese investments are known for their diversity.

The General Authority for development of the Suez Canal economic zone is a governmental body established under Law No. 83 (2002) “Economic zones of a special nature”, amended by Law No. 27 (2015).

The first board of directors was appointed in November 2015 to manage and implement the Suez Canal axis development project separately from the Suez Canal Authority.

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