Yehia Zaki, the Chairperson of the Suez Canal Economic Zone (SCZone), has announced that the authority is putting the final touches to activate bunkering and marine services in the economic zone within the coming months.
He explained that marine services and ship fuel are one of the sectors targeted to be established in the 2020-2025 economic zone strategy, and projects that will be implemented for the green hydrogen industry within the region will be announced soon, in conjunction with Egypt’s hosting of the Conference of Parties on Climate Change (COP27) next November.
This came during his speech at the ‘Suez Canal and Supporting Global Trade in Light of the Current Challenges’ event on the sidelines of the Egyptian pavilion at Expo 2020 Dubai.
Zaki stressed the economic zone’s success in achieving and implementing its objectives in its five-year strategic plan, which focused on identifying and creating the opportunity to attract diversified investments.
He pointed out that the zone targeted about 15 industrial and logistical sectors, which are the petrochemical industries that will be established in Sokhna and the industries of railroad supplies, as well as participating in the Egyptian state’s plan for the strategy of settling the automobile industries, as well as the green hydrogen industry and marine services.
Over the past seven years, Egypt has implemented many huge national projects that offer many investment opportunities, and the Suez Canal itself and the introduction of the economic zone were at the top of these projects that aimed to transform the Suez Canal area into an industrial, commercial, and logistical centre that provides huge investment potentials for companies and countries all over the world.
The Suez Canal Economic Zone is a promising investment destination with a total area of 461 km that includes 4 industrial zones and 6 seaports located around the main international sea route.
The economic zone is an attractive platform for several types of industries through its integrated zones of ports, logistics, and industrial areas backed by world-class infrastructure and utility networks of electric power, desalination, water supply, and wastewater treatment plants in addition to telecommunications and natural gas.
These integrated areas in Port Said and Sokhna have excellent connectivity between the eastern and western banks of the Suez Canal, another achievement managed by the Suez Canal Authority through the construction of six tunnels under the canal as well as linking thousands of kilometres of highways and a modern road network throughout Egypt.
The 2020-2025 strategy aims to create an integrated format based on industry, shipping, and logistics and transform the economic zone into a powerful platform for exporting to global markets and serving the supply chain for the entire world in addition to providing access to the local market.
The economic zone also provides packages of investment incentives to ensure the economic zone’s readiness to do business and meet the requirements of investors.