SCZone to launch incentives to attract new investments soon

Egypt’s General Authority for Suez Canal Economic Zone (SCZone) aims at launching a bunch of incentives to attract investors within the upcoming period, its chairman Yehia Zaki told Amwal Al Ghad.

Zaki further said that the SCZone is continuously aiming to develop the business climate and ecosystem in order to attract new investments, noting that the authority is currently working on finalising amendments on a number of articles of the economic zones law.

The new amendments include various incentives to reach the SCZone’s goals that include attracting more foreign investments and enhancing imports replacement policy.

The SCZone is made up of six ports and four industrial zones scattered along the waterway, through which passes almost 10% of world trade, or 18,000 ships a year.