The Suez Canal Economic Zone (SCZone) attracted 117 new projects in its industrial areas with investments totalling approximately $7.3bn during the concluded fiscal year (FY) 2025/26, its chairperson announced.
Speaking at the “Port Infrastructure and Maritime Innovation Forum between Egypt and the United States,” organised by the US Embassy in Cairo, SCZone Chairperson Mostafa Shaikhoun stated that the new investments are expected to create 73,500 jobs upon completion. The event gathered government officials and corporate executives to explore strategic investment partnerships and infrastructure development in areas such as cybersecurity, networking, artificial intelligence, and operational automation.
Shaikhoun outlined the authority’s strategic vision to localise 21 industrial, logistical, and service sectors. He noted that integrating manufacturing clusters with target markets via Mediterranean and Red Sea ports, supported by international free trade agreements, allows access to over 3.5 billion consumers in more than 100 countries. He also highlighted the SCZone’s role in the development of the Sinai Peninsula through the Arish port and the East Port Said port, the latter of which topped the World Bank’s 2024 Container Port Performance Index for Africa and the Middle East. These ports are integrated with industrial zones working to localise automotive manufacturing, metallurgical industries, and building materials.
North Sinai Governor Khaled Megawer noted that his governorate is experiencing an unprecedented investment boom based on the Arish-Taba logistical corridor. He welcomed cooperation with US companies and highlighted the expansion of modern roads, railways, and tunnels connecting Sinai to other regions, alongside the SCZone’s efforts to develop Arish port into a pivotal hub for trade and logistics in the Eastern Mediterranean.
Representing Washington, Mark Mitchell, US Deputy Assistant Secretary of Commerce for the Middle East and Africa, affirmed that American companies are interested in expanding commercial partnerships with the SCZone by combining advanced US technology with Egypt’s strategic location. Paul Oliva, Commercial Counselor at the US Embassy in Cairo, added that US firms possess the advanced technological capabilities and expertise required to deliver innovative solutions in logistics, data, and maritime security to support mutual economic growth.
The forum concluded with presentations from attending US companies detailing their expertise. The corporate showcases covered advanced engineering solutions for maritime infrastructure, digital communications, cybersecurity, mega-project management, industrial automation, and advanced security screening and inspection technologies for ports.
