The Minister of Investment and International Cooperation, Sahar Nasr, met with Chairman of both the Suez Canal Authority and the Suez Canal Economic Zone (SCZone) Vice Admiral Mohab Mamish.
The two parties discussed pumping new investments into the development plan of the ports located in the SCZone area, in order to enhance their competitiveness. This will be done through the implementation of a promotional plan to support investment projects in the region and present investment opportunities to investors, along with utilizing the empty berths of the ports to establish a number of projects in accordance with the mandates of president Abdul Fattah Al-Sisi.
The two sides agreed to remove any obstacles facing potential investors’ work at the core of the development of the Suez Canal and to provide all the services and infrastructure in the region, which is considered an attractive factor.
Nasr stressed that the ministry is carrying out a number of measures and steps to stimulate investment in the Suez Canal area, within the framework of the comprehensive investment map which is nearing completion.
The development of the ports in the SCZone and upgrading the services they provide are among the effective steps necessary to stimulate investors and attract more investments into that region, according to the minister.
The plan includes the construction of new berths and the dredging the sea floor to add more depth to the ports located in the area of the Suez Canal, as well as modernizing the loading, unloading, and handling operations and warehouses.
Mamish proposed a plan for the development of the six ports located in the Suez Canal area, which includes East and West Port Said ports. He has also presented a scheme to implement electronic systems in said ports, pointing out that there are a number of small industries, food, and electronic, which can be carried out in Port Said and placed within the investment map.