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鈥揙ECD 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.
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This summary was AI-generated from a story originally published by Egypt Today.
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