Egypt introduces infrastructure in SCzone to localize 5 industries

CAIRO – 7 September 2023: President Abdel Fatah al-Sisi was briefed Thursday on the executive status of the under-construction industrial parks being established in the Suez Canal Investment Zone (SCzone) to localize certain industries such as pharmaceuticals, automotives, electrical and engineering products, new and renewable energy, green fuel, and related feeding industries.

The presidency's statement highlighted that the bunkering of a cargo ship with green methanol had already been carried out at the Port of East Port Said for the first time ever in Egypt, Africa, and Middle East. That is within the plan set to make Egypt a hub for bunkering ships with both traditional and green fuel.  

The meeting included Prime Minister Mostafa Madbouli, Chairman of the General Authority of the Suez Canal Economic Zone Walid Samy Gamal al-Din, Chairman of the Egyptian Armed Forces Financial Affairs Authority Ahmed al-Shazly, and Chairman of the Armed Forces Engineering Authority Ahmed al-Azazy.

The president instructed continuous work to lure foreign investments into SCzone, particularly those offering technology transfer. The ultimate goal is turning Egypt into a regional industrial, commercial, and logistic center, bolstering the value added of Egyptian seaports, and creating jobs.