During a Cabinet meeting on Saturday 3/11/2012, Prime Minister Dr. Hisham Qandil reviewed the future of development of the Suez Canal region and the results of the visit by a ministerial delegation to technology valley region. Minister of Housing Dr. Tareq Wafiq said the meeting discussed the main aspects of Suez Canal development project so that the Suez Canal zone may turn into Egypt's economic capital.
Wafiq said the meeting discussed the establishment of Ismailia tunnel which will be carried out under the Suez Canal with the aim of giving a new push to development in Sinai.