Kuwait’s Agility to invest $60m in SCZone

Kuwait’s Agility company for public warehousing had contracted with the Egyptian government an agreement to invest $60 million to build 100,000 square metre customs and logistics business centres in the Suez Canal Economic Zone (SCZone).

Agility will work with SCZone to implement its strategic vision in the areas of services, logistics, and industrial zone, according to SCZone’s statement on Monday.

The company will support these areas by establishing a technical and logistical arm that will automate customs processes in SCZone.

The agreement had signed during the Egyptian-Kuwaiti Economic Forum in the presence of SCZone’s chairman Walid Gamal El-Din, and Agility’s vice chairman Tarek Sultan.

The contract aligned with Egypt’s vision in enhancing the customs clearance service by building an integrated system that increase the overall efficiency of customs operations, El-Din said.

El-Din added the new system will reduce the accumulation of shipment and goods as it facilitates the services for investors.

He assured that it will be a coordination and integration between the Ministry of Finance along with customs authority, and other government bodies in the economic zone.