Dr. Mostafa Madbouly, Prime Minister of Egypt, attended the Suez Canal Authority’s Excellence Day celebration, held today in Ismailia. The event was attended by a number of esteemed ministers, governors, the Chairman of the Suez Canal Authority, the commander of the Second Field Army, the Head of the General Authority for the Economic Zone of the Suez Canal, the European Union Ambassador to Egypt, as well as representatives from several European Union countries, international diplomatic missions, the Secretary-General of the International Chamber of Shipping (ICS), and senior officials from the Suez Canal Authority and global maritime agencies.
The Prime Minister opened his speech by welcoming the attendees to this significant location on the banks of the New Suez Canal, where the waters of the Red Sea met those of the Mediterranean for the first time in August 2015. This historical event marked the establishment of a vital new artery linking the East and West, ensuring sustainability for global supply chains, and ushering in a new and advanced approach to managing one of the most important maritime passages in the world—if not the most important.
Since that time, the Suez Canal Authority has implemented continuous, relentless efforts that have resulted in a leap forward in the development of the canal’s navigational channel, including the deepening of waiting areas at both the northern and southern entrances of the canal, the construction of emergency docks, and the creation of massive ship mooring systems. The most significant achievement, however, has been the development of the southern sector of the canal, which had not seen any upgrades since 1990 due to the challenges posed by the tough, rocky soil in that region.
Dr. Madbouly emphasized that despite the various challenges faced by the Suez Canal, the continuous support from President Abdel Fattah El-Sisi, along with the expertise and capabilities within the Suez Canal Authority, has been the driving force behind its success in overcoming difficult situations and tackling ongoing crises.
He added, “We are currently facing an unprecedented security crisis in the Red Sea region, which has had a considerable impact on the canal’s navigation rates and revenue generation. However, the causes of this crisis are not directly related to the Suez Canal itself, which places additional burdens on Egypt’s interests, given that the canal is one of the country’s primary sources of foreign currency.”
In the same context, the Prime Minister explained that since the very beginning of the crisis, the Egyptian government has understood its political and economic repercussions. Rather than taking actions that might conflict with Egypt’s regional role, the country has actively worked toward politically resolving the root causes of the crisis while simultaneously addressing its economic consequences. This has been achieved through effective measures aimed at enhancing investments, localizing heavy industries, aligning with global trends in clean and renewable energy, promoting tourism, and expanding other activities, all of which are integral to Egypt’s development plan—with the Suez Canal and its Economic Zone playing a central role.
Dr. Madbouly further stated, “Today, we are witnessing a fundamental transformation in the activities and services of the Suez Canal, along with an expansion of its partnerships and global openness. The canal has evolved from being a primarily navigational authority to a multifaceted entity offering a wide range of maritime, logistical, and service-based activities.”
He also pointed out that the Suez Canal has introduced new services and expanded existing ones, including ship maintenance and repair services at the Authority’s dry docks, marine ambulance services, crew change services, as well as the collection and safe disposal of ship waste in an environmentally sustainable manner—aligned with the Authority’s “Green Transformation” goals by 2030.
Dr. Madbouly mentioned, “I have witnessed the signing of a cooperation agreement between the Suez Canal Authority and the Greek company ‘Antipollution’ to provide the safe collection of ship waste. Today, we are seeing the fruits of these efforts with the launch of this service, carried out by Egyptian hands using advanced and environmentally friendly technology.”
He added, “This partnership represents a success story that showcases Egypt’s efforts to attract foreign investments and build partnerships with major global companies. This is a serious invitation to the ambassadors of the European Union and our partners in the maritime transport and logistics industries to seize this opportunity and make the Suez Canal and its Economic Zone a global hub for maritime and logistics services.”
During his speech, Dr. Madbouly also highlighted that the Suez Canal is simultaneously working on strengthening national partnerships to localize the production of maritime units and luxury yachts through the Egypt Tugboat Factory and the Suez Canal Modern Boats Company, located within the free zone in Safaga, in collaboration with the South Red Sea Shipyard.
He emphasized that these ongoing efforts, at multiple levels, are aimed at advancing development, modernization, and growth within the Suez Canal and its surrounding Economic Zone, ensuring the canal’s global leadership and prominence, no matter the challenges faced.
Concluding his speech, Dr. Madbouly expressed his pride in being present at the Suez Canal Authority on its “Excellence Day” and commended the history and ongoing achievements of the canal, calling it a source of inspiration even during the toughest times. He also took the opportunity to extend his gratitude and appreciation to the efforts of all employees within the Authority, pledging to continue providing the necessary support to ensure that the Suez Canal remains a vital artery for global prosperity and a legacy passed down through generations of Egyptians
