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Suez canal economic zone attracts numerous investors

1 min

Chairman of the Suez Canal Economic Zone (SCZONE) Walid Gamal El-Din said that 127 projects worth around $2.8 billion were secured during the period between July 1, 2023 and March 21, 2024.

Walid Gamal El-Din © EPS

Chairman of the Suez Canal Economic Zone (SCZONE) Walid Gamal El-Din said that 127 projects worth around $2.8 billion were secured during the period between July 1, 2023 and March 21, 2024.

He added that 61 projects received final approvals, with a foreign investment rate of 49 percent, while 66 projects have been granted initial approval during the same period, with foreign investments accounting for 39% of the total.

The completion of these projects is expected to generate over 22,000 direct and indirect job opportunities, Gamal El-Din underlined, noting that from January 2024 to the present, 37 diverse projects have been contracted at an investment cost of $894 million.

The chairman unveiled these figures in a statement following a meeting with Egypt’s Prime Minister Mostafa Madbouly.

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