The Suez Canal Economic Zone (SCZone) joined the Africa Economic Zones Organization (AEZO) in a bid to strengthen cooperation with African and international organisations.
SCZone Chairperson Yehia Zaki said in a Sunday statement that the authority will benefit from AEZO being a platform for technical support and assistance in developing projects, promoting business trade, and stimulating the various investments in the SCZone.
SCZone’s presence in such international organisations enhances and raises the classification of the SCZone among the global economic zones and further promotes its geographical location, six ports, and industrial areas, and showcases the advantages and investment incentives provided to the Zone’s investors.
AEZO is a non-profit organisation and one of the African institutions responsible for supporting the development and management of the economic and free zones in Africa, Zaki said.
The organisation was established to achieve a new dimension in the development of the African special economic zones and identify prototypes for best practices and alliances, Zaki noted.
AEZO seeks to promote the attraction of investments, economic activities and commercial initiatives of its members, assists in the preparation of a model for the development of its zones and contribute to the implementation of sustainable development policies in Africa and globally.
AEZO has 73 members representing more than 35 African countries, including Benin, Burundi, Botswana, Burkina Faso, Chad, Central African Republic, Comoros, Djibouti, Ethiopia, Gabon, Ghana, Guinea, Ivory Coast, Kenya, Lesotho, Mali, Mauritania, Mauritius, Madagascar, Mozambique, Niger, Nigeria, Senegal, Sudan, Togo, Tunisia, Sudan, Togo, and others.
Notably, SCZone decided on 7 March to postpone its international investment conference amid mounting global concerns over the novel coronavirus. The event was planned to be held on 21-22 March.