Egypt Promotes Suez Canal Economic Benefits

The article focused on Egypt's efforts to enhance and develop the Suez Canal Economic Zone, particularly in the Qantara West area, with the aim of supporting supply chains and attracting international investments. It was announced that industrial and storage buildings will be established on a 150,000 square meter area through a leasing system, with an investment cost of 2.4 billion Egyptian pounds, to provide ready-to-operate units. The zone includes four industrial areas and six ports, targeting the attraction of various industrial projects such as textiles, packaging, and food industries, with planned investments reaching approximately 1.54 billion dollars and the creation of around 69,000 jobs. Additionally, the article emphasizes the importance of the zone as a commercial and strategic hub that enhances Egypt’s economic standing, especially in light of the impacts of the Iranian war on the region, which has led to losses in Suez Canal revenues estimated at about 10.5 billion dollars.

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