Egypt's President Abdel Fattah El Sisi has issued a decree renewing the term of Yehia Zaki, the chairman of the General Authority for Suez Canal Economic Zone (SCZone), for one year starting August 12.
In August 2019, Zaki was appointed as the SCZone head to succeed former chairman Mohab Mamish.
In a statement on Thursday, the SCZone said the visit tackled the technical support presented to improve the level of services.
The products of the project, which has an estimated investment cost of 2.6 billion dollars, will be dedicated to exports.
Assar hailed the outstanding success of the SCZone in implementing projects and luring more investments that intent to supporting the state's national economy.
Zakaria briefed the delegation on the industrial sectors of the economic zones, according to a statement issued by the SCZone.
According to the ministry, this agreement aims to execute a refining and petrochemical complex in the Suez Canal Economic Zone (SCZone).
SCzone delegation will present investment opportunities in a meeting with British Chambers of Commerce.
“Walid Gamal El-Din has been appointed as an executive investment expert for more than 22 years of experience in this field, in addition to having a proven record in the field of banking investment, money management and real estate development”
The port witnessed 70 million cubic meters of dredging work, at a cost of more than LE 6 billion, paid by the Suez Canal Authority.
Eleven financial and technical agreements were signed on Saturday.
The company aims to manage the construction, ownership, operation and maintenance of various facilities or projects for developers and investors.
Zaki said the Egyptian state works to achieve this goal through providing a favorable atmosphere for investments, removing obstacles and facilitating free flow of information necessary for projects.
Chairman of the Suez Canal Economic Zone (SCZone) Mohab Mamish said the SCZone achieved the highest revenues for the second successive year.
The upcoming projects are within the 2017-2020 Unified Support Framework worth €500 million by the European Bank for Reconstruction and Development (EBRD).
The Ministry of Immigration is organizing field trips to mega development projects for participants in the first conference of Egyptian expats associations.
The Suez Canal Authority targets revenues worth $6.1 billion in FY2019-2020 against $5.8 billion in the current fiscal year.
Fifty-five Russian companies until present want to invest in the Russian Industrial Zone (RIZ) that is being constructed in the SCzone.
SCzone houses 167 enterprises, Chairman of the Suez Canal Authority Mohab Mamish stated.
Egypt’s Suez Canal is expected to become a pivotal part of the Belt and Road Initiative (BRI).