Egypt's Suez Canal Economic Zone (SCZONE) has contracted for 34 projects worth $10.4bn in the past 38 months, with a focus on localising new industries, its executive chairperson has said. Speaking at a panel discussion organised by the British Egyptian Business Association (BEBA), Waleid Gamal El-Din highlighted the significant progress in Egypt's logistics and ports, particularly at East Port Said port, which was ranked third globally and first in Africa by the World Bank in 2024. He added that in the past 38 months, the SCZONE has contracted for 34 projects worth $10.4bn, primarily in Sokhna, Qantara, Ismailia, and East Port Said. The zone has attracted over 334 projects, including 11 in ports. He noted that 70% of the new industries are ones that Egypt did not have before, such as localised wind and solar panel manufacturing and active pharmaceutical ingredients. Keld Mosgaard Christensen, CEO of the Suez Canal Container Terminal (SCCT), said the company is now ranked number three in the world. He noted that the Egyptian government has made significant investments in port capacity, which is currently around 10 million TEUs, while market demand is about 2.5 to 3 million TEUs. Mohammed Shihab, North Africa Cluster CEO of DP World Egypt, emphasised the importance of being integrated within the broader economic ecosystem. He highlighted that ports are critical points in both the upstream and downstream sectors of the economic zone, and that DP World is responsible for approximately 70% of Egypt's imports. Amr El-Batrik, CEO of Orascom Industrial Parks, said his company has been actively engaged with the SCZONE industrial parks for the past 25 years, playing a crucial role in facilitating foreign direct investments. He noted that recent investments have predominantly come from major importers of raw materials and exporters of finished products. Medhat El-Kady, CEO of Kadmar Shipping Egypt, provided an overview of his company's initiatives in the SCZONE. He said the company launched with a 12,000-square-metre warehouse in Sokhna and has since expanded to a 50,000-square-metre logistics park, with investments totalling around EGP 1.2bn.
