Egypt’s PM reviews proposals for logistics hub in Suez Canal Economic Zone
Egypt is evaluating proposals from international companies to establish a logistics and distribution hub in the Suez Canal Economic Zone (SCZONE), as it seeks to attract foreign investment and strengthen its position in regional trade and supply chains.
Prime Minister Moustafa Madbouly reviewed the proposals during a meeting on Monday with Investment and Foreign Trade Minister Mohamed Farid, SCZONE Chairman Waleid Gamal El-Dien, and other senior officials, according to a government statement.
Several international companies have submitted offers for the project and the government is assessing them in coordination with relevant agencies, the statement said.
Madbouly said the initiative aligns with President Abdel Fattah El-Sisi’s strategy to maximise returns from major national infrastructure projects, attract foreign direct investment, and reinforce Egypt’s role as a regional logistics and supply-chain hub.
The prime minister instructed officials to accelerate negotiations with prospective investors and finalise agreements for the project, while establishing governance mechanisms for logistics and redistribution activities.
The government is also seeking to attract multinational companies to establish logistics and distribution centres across Egypt’s development zones as part of efforts to expand trade-related services and increase foreign-currency earnings.
The proposed project would build on billions of dollars invested in recent years to upgrade ports, transport networks, and logistics infrastructure. The officials said the hub could generate additional hard-currency revenues through storage, handling, and redistribution activities, while boosting port traffic and demand for logistics services.
The project forms part of Egypt’s broader strategy to leverage its location on the Suez Canal, one of the world’s busiest shipping routes, to position itself as a gateway for trade between Africa, Asia, and Europe.
Attribution: Amwal Al Ghad English