Egypt Seeks to Attract Investments of $55 Billion in the Suez Canal Economic Zone

Egypt Seeks to Attract Investments of $55 Billion in the Suez Canal Economic Zone

July 15, 2019
Mohab Mameesh, Chairman of the Suez Canal Authority and Head of the Economic Zone, said that Egypt is planning to raise the investments of the Economic Zone development project to $55 billion over the coming 15 years. Mameesh added that the development of this region is obvious on the ground after the implementation of a number of projects with investments of nearly $20 billion.

During his meeting today with a delegation of African media officials, accompanied by Ambassador Hisham Asran, Deputy Secretary-General of the Egyptian Agency of Partnership for Development, at the Simulation and Maritime Training Center in Ismailia, Mameesh referred to the launching of the first vocational and technical training center in the Economic Zone in Ain Sukhna. With investments of over 22 million euros, this training center aims at providing technical skills to the Egyptian workers to carry out the ongoing projects.

Mameesh also praised the efforts of the Egyptian Agency of Partnership for Development in strengthening cooperation with the Africans to achieve sustainable development for the African Continent. Mameesh added that in accordance with the instructions of Egypt’s Presidency, Egypt is keen on taking advantage of its leadership of the African Union Organization this year to continue building bridges of economic integration, development and partnership with the African countries. Egypt seeks to achieve the ultimate use of the great human and natural resources for the advancement of the African Continent.

In addition, Mameesh stated that in order to achieve the desired objective, the Authority is planning to launch several shipping lines and new roads to connect Egypt with the African countries. The aim is to facilitate marketing the African exports to the countries all over the world. Mameesh pointed out that Egypt’s organization of the African Championship is successful. It is an indication of Egypt’s ability to organize global events.

At the end of the visit, Mameesh presented the shield of the New Suez Canal to Ambassador Asran inviting the delegation to take a cruise in the new channel.

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