Egypt to accelerate SCZONE infrastructure projects as demand rises – PM

Egypt will accelerate infrastructure projects in the Suez Canal Economic Zone (SCZONE) to meet rising investor demand, Prime Minister Moustafa Madbouly said on Sunday.

The projects include water desalination plants, power stations, and other infrastructure needed to support the expansion of industrial activity in the zone, Madbouly said during a visit to inaugurate new factories.

“The huge volume of demand requires developing more infrastructure projects, which are not included in the short-term plan,” Madbouly said, citing data presented by SCZONE Chairman Moustafa Shaikhon.

Madbouly said the projects would be brought forward to keep pace with existing demand in the zone.

He said his visits to the zone were aimed at identifying challenges facing investors and supporting the government’s goal of raising the private sector’s share of total investment to 70 per cent to 75 per cent over the next four years.

Madbouly also said Industry Minister Khaled Hashem held discussions with several factory owners during the visit, some of whom raised operational problems or expressed interest in expanding their facilities.

By Ahmed Safwat and Youlita Ashraf
Amwal Al Ghad English — Internship Training Programme
Edited by Yomna Yasser