The Suez Canal Economic Zone (SCZone) has attracted about $15bn in investments over the past five years, through 15 industrial developers, according to SCZone Chairperson Yehia Zaki.
The investments were also driven by the establishment of more than 220 companies in various fields, representing vital and important industries for Egypt.
Zaki added that the government has implemented a national road network, alongside improved tunnels and links with the African road network as part of the Pan-African Highway, also called the Cairo-Cape Town Road.
This has contributed to the SCZone becoming one of the most important strategic windows in trade exchange between Egypt and the rest of Africa. At the same time, these developments have increased the region’s opportunities to access African markets, and opened new horizons to achieve comprehensive development to meet the region’s ambitions in global competition.
Zaki’s remarks came during a speech delivered at the first international digital investment forum, entitled “Investment opportunities in both the Kingdom of Bahrain and Egypt”. The forum, which took place via video conference technology, was organised by the Egyptian Businessmen Association (EBA).
Zaki added that the SCZone is geographically diversified, and has the ingredients and advantages needed for a good investment climate. It has also ensured that a suitable business environment is in place to cater to different projects.
The zone is also characterised by easy access to global markets, through its strategic geographical location, and through free trade agreements with many countries. These agreements make it a gateway to the African and Middle Eastern markets, in addition to the competitive advantages granted by Egypt’s Economic Zones Law and its executive regulations.
Zaki emphasised that the economic zone has 25 vital industrial sectors in specific, pre-prepared and recently modernised fields. These include agriculture, automobile manufacturing, metal casting and shaping, textiles, pharmaceutical industries, bunkering, logistics and information technology.
Work is underway to prepare a working paper for each of these sectors, which will be presented to institutions, business councils, and investors. The paper will provide a platform to discuss the returns these sectors provide to the state, and to investors interested in the SCZone.