Egypt's PM orders finalizing under-construction projects at SCZone

CAIRO - 22 July 2018: Prime Minister Moustafa Madbouli ordered on Saturday finalizing under-construction projects at the Suez Canal Economic Zone (SCZone) as soon as possible to achieve investment goals.

During a meeting with Chairman of the Suez Canal Authority (SCA) Mohab Mamish, Madbouli ordered floating plans to attract new investments into the SCZone.

Mamish presented a report on the projects finalized so far and revenues of the Suez Canal Authority last year.

The SCA revenues hit a high record of 5.6 billion dollars in the 2017/18 fiscal year with an increase of 600 million dollars compared to the previous year, he said.

The SCA marketing policies contributed to attracting new shipping lines into the international waterway, achieving revenues of 1.4 billion dollars, Mamish added.

Madbouli praised efforts exerted by the SCA board to turn Egypt into a logistics hub for international trade.