March 11, 2019
Admiral Mohab Mameesh, chairman of the Suez Canal Authority and Suez Canal economic zone, stated that the four new tunnels built under the Suez Canal that cost 25 billion pounds will be opened during the Eid Sinai celebrations on April 25.
He pointed out in the margins of the meetings of the Egypt-Japan Business Forum, that the new tunnels are one of the largest national projects implemented by the State during the past period, and will contribute significantly to the development of Sinai and attract new investments during the coming period.
Mameesh stressed the strategic importance of the Suez Canal as the link between the East and the West, and a source of welfare and development to the world. As a result, it was a top priority of the Egyptian state.
He explained that the canal development project is a new bridge for Egypt to regain its economic leadership, through a comprehensive plan that applies the concepts of added value and logistics distribution across industrial and logistical areas and six promising ports.
2015 witnessed the opening of the new Suez Canal, a channel parallel to the historic channel, which is 149 years old. The new canal and corridors are part of the development of the Canal’s perimeter.
Admiral Mohab Mameesh, chairman of the Suez Canal Authority and Suez Canal economic zone, stated that Egypt has made great strides in the development of the Suez Canal Economic Zone, attracting many local and foreign investments. He noted that this reflects the confidence of local and foreign investors in the Egyptian economy.
Admiral Mohab Mameesh, chairman of the Suez Canal Authority and Suez Canal economic zone, pointed out that the management of the region is on its way to completing all the needed implementations of the region in infrastructure, power stations, water desalination stations, delivery facilities to all project sites in the region, as well as the development of transport logistics network in the ports of the economic zone, implementing a smart transport system, and increasing the capacity of the port. This will help transform Egypt into a global center in the transport and logistics industry and a key link in the global value chain, thus contributing to the requirements of the country’s economic development plans.
He explained that the diversity of investments in the Suez Canal Economic Zone in coordination with the Ministry of Investment and International Cooperation and the establishment of the best investment incentives and provides more facilities for investors.