Egypt's Prime Minister Mostafa Madbouly held a meeting on Sunday with Walid Gamal El-Din, Chairperson of the General Authority for the Suez Canal Economic Zone (SCZONE), to review matters related to the Authority's activities, recent developments, efforts to attract investments, and the progress of ongoing projects. The Prime Minister opened the meeting by affirming that the Suez Canal Economic Zone represents a vital logistical gateway linking East and West, offering promising opportunities for investors due to its strategic location and integrated infrastructure. He stressed the Egyptian state's efforts to maximize these advantages by developing world-class infrastructure and services across the zone. For his part, Gamal El-Din stated that the SCZONE has implemented an ambitious plan to modernize its affiliated ports, encompassing infrastructure upgrades, quay expansions, enhanced handling capacity, and improved logistical services, thereby strengthening the zone's competitiveness at both the regional and international levels. He also highlighted the various facilitation measures introduced to attract investment, aimed at ensuring the zone's economic sustainability and removing administrative barriers for investors. Mohamed Al-Homsani, the official spokesperson for the Cabinet, reported that the meeting reviewed the Authority's efforts to attract investments in targeted industrial sectors, the results of promotional campaigns, agreements signed for new projects, and the current status of investment activities in Ain Sokhna and other industrial zones within the SCZONE. The Chairperson of the Authority presented an overview of the SCZONE's financial position, including an analysis of income and revenues, and the outcomes of promotional efforts spanning from the 2022/2023 financial year through March 2025. Gamal El-Din noted that the total value of actual project agreements signed during this period amounted to $8.301 billion across 272 projects, comprising 262 industrial, service, and logistics projects, which collectively created 40,209 job opportunities. An additional 10 investment projects were established at the SCZONE's seaports. He further revealed that the number of companies established within the SCZONE had reached 387, drawing foreign direct investment from a diverse range of Asian, European, and Middle Eastern countries. In terms of licensing, Gamal El-Din noted that the Authority began issuing building permits and operating licenses in the second half of 2022. Between 1 July 2022, and 31 March 2025, the SCZONE issued a total of 77 operating licenses and 137 building permits. The meeting also reviewed the investment status in Ain Sokhna, one of the SCZone's largest industrial areas and home to Egypt's largest port on the Red Sea. The area is currently being developed into a major regional logistics hub, hosting a variety of manufacturing, commercial, and service activities. Thirteen industrial developers are actively working to attract investments across several sectors, including green fuel production, pharmaceuticals and active pharmaceutical ingredients, medical devices, semiconductors, electronics, engineering equipment and machinery, automotive production and components, green heavy industries, industrial support services, training centers, and logistics activities. Gamal El-Din confirmed that the SCZONE has succeeded in attracting major global companies to establish projects aligned with the Authority's industrial localization strategy, particularly in key sectors such as renewable energy, electronics, pharmaceuticals, automotive parts, and metal components. He also presented the progress of several new projects currently under development within the Ain Sokhna industrial zone. Turning to Qantara West, Gamal El-Din stated that between July 2023 and March 2025, 15 projects had been launched, representing a total investment of $500 million and creating approximately 21,500 job opportunities. He also detailed the construction progress of several foreign-invested projects in the area. In the same context, the SCZONE Chairperson reviewed the status of investments in the East Ismailia industrial zone, known as "Technology Valley," which is designed to create a new urban community driven by economic activity, investment, training, and research in high-tech industries. The zone targets investments in sectors such as technology and semiconductors, electronics and engineering equipment manufacturing, photovoltaic solar panel production, vocational training centers, and silica-based mining industries. Gamal El-Din added that the SCZONE had successfully secured new investments in silica mining and modern building materials, totaling $47m and generating around 900 job opportunities. The meeting also covered developments in the East Port Said industrial zone, an area offering competitive investment opportunities across a broad range of manufacturing activities and industrial clusters. Targeted industries include automotive production, electric battery manufacturing, engineering tools and equipment, modern building materials, and logistics services. Gamal El-Din confirmed that several projects had already been secured under the East Port Said development plan, including projects specializing in railway carriage components and green fuel production. Furthermore, the Chairperson discussed projects currently being implemented throughout the SCZONE as part of the state's efforts to localize industries and achieve greater industrial integration. He elaborated on the SCZONE's digital transformation strategy, aimed at positioning the Authority as a global industrial and investment platform. Gamal El-Din emphasized that the SCZONE continues to evolve by adopting cutting-edge practices and developing advanced infrastructure to attract and retain investment. He explained that the Authority has partnered with the European Bank for Reconstruction and Development (EBRD) and global logistics company Agility to digitize investor services, simplifying and accelerating service delivery while enhancing transparency, governance, and business performance indicators. Finally, Gamal El-Din presented the operational model for process integration and digital transformation, underscoring the SCZONE's commitment to becoming a global leader in industrial development and investment facilitation.
