Egypt plans New Suez city as key investment hub

Egypt’s Minister of Housing, Utilities, and Urban Communities, Sherif El-Sherbiny, affirmed the ministry’s commitment to developing cities as economic and investment hubs, including New Suez City, according to a Cabinet statement on Sunday.

The minister reaffirmed that a comprehensive vision is essential to maximise its potential and add numerous advantages, given the region’s significant investment opportunities, as per the statement.

El-Sherbiny discussed investment opportunities, housing projects, and the development of service centres, financial and business hubs, trade facilities, and logistics services. Proposed projects to utilise available land were also examined.

He wrapped up the meeting by instructing the team to create a comprehensive vision and action plan for development projects, which would include a specific entrance from the Cairo-Suez road to New Suez City.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama