Egypt pushes for Suez Canal comeback as maritime risk eases in Red Sea

Egypt is urging foreign governments and global shipping firms to reroute vessels back through the Suez Canal, as security conditions in the Red Sea stabilise after months of regional turmoil. Prime Minister Moustafa Madbouly on Tuesday met with foreign ambassadors, calling for renewed confidence in the waterway and highlighting recent infrastructure upgrades aimed at restoring the canal’s role as a critical artery for global trade.

Speaking on the sidelines of the Suez Canal Authority’s Excellence Day celebration in Ismailia, Prime Minister Madbouly said that no attacks on vessels have occurred since December, reflecting a significant boost in regional security.

“The past few months have seen a noticeable improvement in Red Sea navigation security,” the prime minister told diplomats. “We call on you to relay this message to your governments and shipping companies: the Suez Canal is safe and ready.”

Prime Minister Madbouly also emphasised the strategic global importance of the Suez Canal, describing it as a “lifeline for international trade” and a symbol of national pride for Egypt. He highlighted ongoing expansion and modernisation efforts, including the dual-laning of key sections, which aim to enhance the canal’s capacity and efficiency.

He also invited foreign nations to invest in the Suez Canal Economic Zone (SCZone), noting its strategic location and attractive investment incentives.

“The SCZone offers unmatched opportunities for global investors. We encourage you to promote this potential to your countries’ businesses,” Prime Minister Madbouly added.

The remarks come as Egypt works to restore confidence in the vital waterway after regional tensions in late 2023 led some shipping companies to reroute vessels away from the canal.

Attribution: Amwal Al Ghad English