Egypt's Planning Minister highlights Suez Canal's role in global trade and FDI attraction
via Egypt Today2 min read
Egypt's Planning Minister Ahmed Rostom stated that the Suez Canal Economic Zone SCZone is a key component of the country's strategy to attract foreign investment and integrate into global supply chains. Speaking at a roundtable with the OECD and the Suez Canal Economic Zone Authority, Rostom noted that the Suez Canal handles approximately 12 percent of global trade and 20 percent of worldwide container traffic. The SCZone, which includes six ports and four industrial zones, is being developed as an integrated hub for manufacturing, logistics, and trade, supported by a unified digital platform for investor services. Rostom also mentioned improved performance, with Suez Canal activity growing by 8.6 percent in the first quarter and 24.2 percent in the second quarter of the current fiscal year. The government is prioritizing the localization of production, diversification of supply chains, and strengthening links between international investors and Egyptian companies to boost exports, attract foreign direct investment, enhance productivity, and facilitate technology transfer. This roundtable is part of the Egypt–OECD Country Programme, extended until June 2026, which includes 35 projects focused on economic reform, digital transformation, governance, and sustainable development, aiming to improve the investment climate and reinforce the SCZone's role as a regional gateway connecting Africa, Europe, and Asia.
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Egypt Today.
Al Ahly has announced the departure of coach Jess Thorup by mutual consent, following a season that saw the Egyptian club finish below expectations. Thorup, 56, who was appointed in October on a two-and-a-half-year deal, signed a settlement agreement after receiving his full contractual dues. While he led Al Ahly to the Egyptian Super Cup title with a 2-0 victory over Zamalek, the team's performance declined in the latter part of the campaign. Al Ahly concluded the league in third place, missing out on qualification for next season’s African Champions League and instead securing a spot in the Confederation Cup. The club was also eliminated in the quarter-finals of the continent's premier club competition.
Maria Zakharova, spokesperson for the Russian Foreign Ministry, commended Egypt's diplomatic efforts and its significant regional role, particularly in securing a ceasefire in Gaza. Speaking at the St. Petersburg International Economic Forum SPIEF 2026, Zakharova highlighted Egypt's strength and influence in the Middle East. She affirmed Russia's openness to global cooperation, emphasizing the importance of the Arab region and the shared, long-standing special relationship between Moscow and Cairo. Zakharova noted that Egypt's policies align with the will of its people, fostering strong opportunities for international cooperation, an approach similar to Russia's.
Must ReadU.S. President Donald Trump stated that significant progress has been made in negotiations with Iran, with the primary goal being to prevent Tehran from acquiring nuclear weapons. A key provision of any future agreement would be the immediate reopening of the Strait of Hormuz to maritime traffic, which Trump described as crucial for regional stability. He expressed confidence that the U.S. will achieve its objectives with Iran, through negotiations or other methods. Trump also mentioned that he had previously rejected the option of deploying special forces to seize Iranian nuclear materials to avoid past U.S. administration scenarios. While not currently seeking a meeting with Iran’s Supreme Leader, Trump did not rule out such a meeting if a final agreement is reached.
Egypt's Minister of Foreign Affairs, International Cooperation, and Egyptians Abroad, Badr Abdelatty, met with members of Japan’s House of Representatives and House of Councillors, including the Egypt-Japan Parliamentary Friendship Association, during his visit to Tokyo. Minister Abdelatty highlighted the rapid development of Egyptian-Japanese relations since their elevation to a strategic partnership in 2023, noting increased high-level visits and cooperation. He emphasized the importance of parliamentary cooperation and expressed hope for reciprocal parliamentary visits, inviting the association to visit Egypt. Abdelatty also acknowledged Japan’s support for major development projects in Egypt, such as the Grand Egyptian Museum, the Egyptian-Japanese partnership in education, and the Cairo Metro Line 4 project. He reviewed economic reforms in Egypt, stressing the enhanced competitiveness of the national economy and encouraging Japanese companies to invest in promising opportunities, particularly in the Suez Canal Economic Zone. The meeting also included discussions on regional developments in the Middle East, including the Gaza Strip, Iran, Syria, Yemen, Lebanon, and Egypt’s water security. Kuniko Inoguchi, a member of the Japan-Egypt Parliamentary Association, conveyed remarks on behalf of former Japanese Prime Minister Taro Aso, praising the historical ties and strategic partnership between the two nations and affirming the association's commitment to strengthening bilate