From July 2022 to May 2023, the Suez Canal Economic Zone (SCZone) in Egypt garnered 2.5 billion dollars in foreign investment, according to the General Authority of the SCZone in Egypt.
According to a statement from the SCZone, national investments in the region totalled 3.6 billion Egyptian pounds (116 million dollars) at the same time. The SCZone also stated that it had approved 46 varied projects to begin operating in the zone’s industrial zones.
The SCZone, a 461 square kilometre region along the Suez Canal’s banks, has six ports and four development sectors.
The list of authorised projects includes a complex for steel businesses with an eye towards international markets and a sizable tyre plant.
According to Waleed Gaballah, an Egyptian economist, the SCZone has initiated a worldwide advertising effort to improve connection with investors from other nations.
Gaballah stated that the SCZone’s location and renovation of its infrastructure had enabled it to attract additional investors.
According to the expert, Egypt seeks to become a regional hub for numerous industries, particularly energy and logistics along the Suez Canal corridor.
The SCZone, founded by presidential order in August 2015, intends to attract domestic and foreign investors by offering logistical and industrial services that meet international standards near the Suez Canal.
