CAIRO, August 9, 2018 - The Suez Canal Economic Zone (SCZone) made net profits of LE2.13 billion in the fiscal year (FY) of 2017/18. This represented a 64 per cent increase over LE1.3 billion in the FY2016/17, Chairman of the Suez Canal Authority (SCA) and SCZone Admiral Mohab Mamish revealed on Thursday. In a statement, Mamish said recent statistics showed that the SCZone ranked fifth on the list of the most profitable economic sectors citing an increase in the revenues of the SCA ports. He hailed the efforts of the SCA personnel to attract foreign investments by implementing flexible marketing and investment policies. These resulted in the signing of a contract to establish the largest petro-chemical complex in the Middle East. Mamish affirmed that the applied policies are aimed at turning the SCZone into a global hub for trade and one of the World's most important logistical areas. These in turn would contribute to boosting Egypt's economy by 2025. The SCZone serves the country's plans to attract Arab and foreign investments to secure more jobs for young people across the nation, establish technical and industrial training centres, as well as create new urban communities, he said.
