Sisi appoints Moustafa Shaikhon as SCZONE chairman for one year

Egyptian President Abdel Fattah El-Sisi has appointed Moustafa Farouk Ismail Shaikhon as chairman of the Suez Canal Economic Zone (SCZONE) for a one-year term, effective Wednesday, the presidency said.

Shaikhon will hold the position with ministerial rank, according to a presidential decree announced by the official spokesperson for the Egyptian presidency.

The SCZONE spans industrial and port areas along the Suez Canal and is a key part of Egypt’s efforts to attract domestic and foreign investment, expand manufacturing and logistics activities and boost exports.

The zone has attracted investment in sectors including automotive components, renewable energy, chemicals, food processing and logistics as Egypt seeks to develop the area as a regional manufacturing and trade hub.