In the past period, we heard that many companies signed contracts for investment and construction of projects in the Suez Canal Economic Zone, and most of the foreign companies and investments that arrived in Egypt aimed to start their projects in this particular region. I wonder what the secret is to focus all the new investment projects in the Suez Canal Economic Zone. Stay tuned. Stay with us until the end and you will know the details.
There are very many projects. The state has signed on foreign investors to launch projects and factories in Egypt. What is strange is that most of the foreign investments that arrived in Egypt were aimed at entering the Suez Canal economic zone. In the past period, the state signed a large number of projects in the fields of new and renewable energy, green hydrogen, and industries. Equipment, car tires, vehicle manufacturing, and many other types will all begin to be manufactured and produced here in Egypt, and their production will be to cover Local need and export abroad.
Ok, why all the focus on the Suez Canal Economic Zone?
The main reason for the investment boom that hit the Suez Canal Economic Zone was the terrible infrastructure that the Egyptian state built in developing the ports along the canal line, which currently includes 4 industrial zones and 6 seaports on the Mediterranean and the Red Sea.
The development that took place in the infrastructure of the ports located along the canal line created a kind of integration with the industrial and logistical zones, which provided support for supply chains and the movement of trade and industry. The Suez Canal economic zone was transformed into a center for the fuel industries. The strategic location and readiness of the seaports enabled the region there to provide services. Fueling ships with fossil fuels and green fuels.
The large infrastructure that has occurred in the region has also greatly stimulated investment projects that want to enter the region, and currently the number of sectors that have begun to manufacture and produce there has reached 21 industrial and service sectors, which include very many industries such as the food, pharmaceutical, and automobile industries.
The incentives provided by the state to attract new investments in the region were not limited to equipping the infrastructure only. No, this also included direct and indirect financial incentives and exemptions for the goods that we export.
Ok, what are the most prominent companies that have entered and will enter to implement projects in the Suez Canal Economic Zone?
Over the past few years, the Suez Canal Economic Zone has received a very large number of projects from most countries in the world, especially China, which has more than one industrial investment project to produce various products needed by the local market, a large percentage of which will be for export.
Last week, the Suez Canal Economic Zone received a delegation from the American embassy, which confirmed the desire of a number of American companies to enter the economic zone and launch new investment projects there. This is what the zone officials welcomed, and in the period that there will be meetings between members of the Suez Canal Economic Zone and American companies. We coordinate with the American Embassy in Cairo, especially companies working in the field of health care and medical devices.
