New Suez Canal is symbol of a new Egypt: UAE paper

A UAE newspaper has said rapid strides of progress in Egypt stand out as a spectacular story of success and a beacon of hope in a region wracked by violence.

“This success would not have been possible without the unflinching commitment of the UAE towards Egypt and its people at such a critical juncture for the Arab world,” the Gulf News said in its editorial published today. The paper said that the inauguration of the New Suez Canal, in which the UAE has played a vital supporting role, is therefore a historic milestone for the region in many ways.

“When construction of the Suez Canal started more than 150 years ago, it took 10 years to complete the trade link that connects the Mediterranean Sea and Red Sea. But the expanded waterway that opens today was completed in only one year instead of the three years originally planned, at a cost of about AED33 billion,” it explained.

The expanded canal will cut the waiting period for vessels from 18 hours to 11 and the number of ships that can use the canal daily will increase from 49 to 97 in eight years, significantly improving global trade opportunities, said the editorial.

“The canal is thus the symbol of a new Egypt emerging from years of political unrest and economic challenges,” it noted.

The editorial added that “those challenges have also been mitigated in large parts thanks to an impressive infrastructure portfolio built by the UAE for Egypt, including more than 50,000 houses, a 10 megawatt solar power plant, 100 new schools, 78 health clinics, 600 public transport buses and four major road bridges.”

“The UAE has always held a special pride of place for Egypt, with historic ties that go back several decades. The UAE leadership’s support for the restoration of stability in Egypt and its economic resurgence under President Abdel Fattah al-Sisi marks the continuation of that relationship, with the new projects expected to create at least 900,000 jobs,” it said.