Egypt is working to review a proposal for a global logistics distribution centre aimed at strengthening the role of the Suez Canal Economic Zone in international trade.
Prime Minister Mostafa Madbouly reviewed a proposal on Monday to create a global logistics distribution centre within the Suez Canal Economic Zone (SCZone), according to a statement from the Council of Ministers.
The project is part of the government’s strategy to attract more investment and develop high-value-added industrial and logistics activities around one of the world’s major trade corridors.
The meeting, held in Cairo and attended by officials from the Ministry of Investment and Foreign Trade, the Suez Canal Economic Zone Authority, and the General Authority for Investment and Free Zones (GAIF), reviewed several proposals submitted by international companies interested in developing this future platform.
The government did not, however, disclose the identities of the applicant groups. According to the official statement, Mostafa Madbouly emphasised the need to quickly finalise talks with companies deemed credible in order to expedite the project’s implementation.
The PM also requested the development of a dedicated governance framework and a promotional plan to strengthen Egypt’s position as a regional hub for the redistribution of goods.
The review of bids focused on the creation of distribution centres covering various types of goods and products. The relevant authorities presented the progress of the evaluation procedures carried out by the Suez Canal Economic Zone (SCZone), the Ministry of Investment, and the public bodies involved.
Several requests aimed at accelerating the project’s operational launch were also considered.
Egyptian authorities consider this initiative a significant step in the development of the Suez Canal Economic Zone. The project builds upon investments made in recent years in port infrastructure,
transport networks, and logistics services, with the aim of capturing a larger share of the trade flows transiting through the Suez Canal corridor.
According to officials involved in the project, the future distribution centre could make the SCZone a major hub for transit trade and the regional and international redistribution of goods.
The authorities also emphasise the anticipated benefits for port activity, supply chains, logistics services, and foreign exchange earnings generated by storage, handling, and re-export operations.
MK/AK/Sf/fss/as/APA