Dr. Mostafa Madbouly, Egypt’s Prime Minister, commenced an extensive tour this morning of several projects in the Integrated Sokhna Area, located within the Suez Canal Economic Zone. The tour includes the inauguration of a number of factories in the industrial zone, as well as inspecting the ongoing development works at Sokhna Port. He was accompanied by Eng. Kamel El-Wazir, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, Dr. Rania Al-Mashat, Minister of Planning and Economic Development, Mr. Ahmed Kouchok, Minister of Finance, Maj. Gen. Tarek El-Shazly, Governor of Suez, and Mr. Walid Gamal El-Din, Head of the General Authority for the Suez Canal Economic Zone. The visit also included the participation of several key executive leaders of the General Authority for the Suez Canal Economic Zone.
The area hosts advanced industrial zones, maritime ports along the Mediterranean and Red Seas, and a diversified investment map. As such, the government has worked diligently to maximize the area’s potential t to become a center for green fuel industries.
In this context, Dr. Madbouly highlighted that the government is working under the directives of President Abdel Fattah El-Sisi to offer the necessary facilitations to attract investments to the region, ensuring its economic sustainability. This includes removing administrative obstacles for investors and enhancing the local industrial base as a key strategic goal for the nation, providing a path for development and progress.
Addressing his current visit to the region, the Prime Minister noted that it is part of the inauguration of several projects from both local and international investments, underscoring the great success achieved by the Suez Canal Economic Zone in becoming a model for international economic cooperation for development. He emphasized that the integration between industrial zones, ports, and the availability of skilled labor has created a favorable investment environment, making the region an ideal location for global manufacturing expertise to align with the skills of Egyptian professionals. Consequently, the Suez Canal Economic Zone has become one of the most vital tools in executing the state’s vision to build a strong and diversified economy centered around industry, trade, and logistics services.
Mr. Walid Gamal El-Din, Head of the General Authority for the Suez Canal Economic Zone, explained that the region is focused on boosting the Egyptian economy by attracting investments across 21 industrial and service sectors, including pharmaceuticals, building materials, textiles, green fuel industry components, and data centers. This strategy aims to reduce import bills and diversify the production base, while also focusing on developing value-added manufacturing industries and localizing green fuel production, alongside enhancing activities related to ship fueling with both traditional and green fuels.
Mr. Gamal El-Din further highlighted that the region offers a stimulating investment environment supported by sustainable legislative frameworks and international partnerships. Additionally, the region provides integrated services to investors, training for technical staff, creating job opportunities, and enhancing the competitiveness of Egyptian products. The successful implementation of these projects is an indication of the Suez Canal Economic Zone’s support for its investors, with numerous projects completed within record timeframes.
The Head of the Authority also pointed out that the Suez Canal Economic Zone has achieved notable investment successes in the past thirty months, with contracts valued at a total of $8.1 billion for 255 projects across industrial zones and ports. Currently, 120 factories are under construction in the region simultaneously, with one of the notable projects being the “Plug & Play” factory complex, which spans 222,000 square meters and will offer 150 industrial units in three phases. The estimated investment cost for the project is one billion Egyptian pounds, with phase one already achieving significant success, securing contracts for 14 factories at a total investment of 150 million Egyptian pounds.
