Egypt’s national strategy to modernize its port infrastructure reached a new milestone on Sunday with President Abdel Fattah Al-Sisi presiding over the inauguration of several new seaports in the Suez Canal Economic Zone (SCZone) in the eastern Port Said region.
The inauguration underscores Egypt’s firm commitment to leveraging its strategic location to strengthen the Suez Canal, one of the world’s most vital waterways, as a global logistics and trade hub.
“Today we are reaping the rewards of ten years of effort,” Al-Sisi remarked during the ceremony, highlighting the promising opportunities available to Egypt due to the Suez Canal’s status as a global shipping route. He acknowledged the significant challenges the SCZone project faced since the canal’s expansion in 2015, but asserted that collective dedication enabled the state to achieve its objectives.
President Al-Sisi emphasized the need to continually develop the transport and logistics sectors. He noted that Egypt aims to increase investments from global firms, particularly Maersk, which has enjoyed a fruitful cooperation with the Suez Canal Authority over the years. Al-Sisi specifically announced Maersk’s intention to increase its investments in Egypt in the coming period.
Olivier de Noray, Chairman of the Suez Canal Car Handling Company (SCAT) and CEO of AGL Ports, praised President Al-Sisi’s vision for transforming the region into a strategic gateway to Africa and surrounding areas. De Noray also stressed that SCAT’s projects in Egypt would make it a platform for automotive production and export.
Kamel Al-Wazir, Minister of Industry and Transport, provided an overview of the national strategy for modernizing port infrastructure. The comprehensive plan is designed to make Egypt one of the world’s leading centers for logistics and transit trade.
The Minister noted that this strategy has already resulted in the modernization of 14 existing ports and the construction of five new ones.
The successful execution of this plan is crucial for boosting trade volumes and solidifying Egypt’s economic resilience on the international stage.
AK/fss/abj/APA