Mamish: Investments in SCZone Exceeds $ 30 bn

By: Taarek Refaat

CAIRO, Dec. 8 (SEE)- Chairman of the Suez Canal Authority Mohab Mamish said on Saturday that total investments in the economic zone exceeded $ 30 billion including more than 164 projects.

Mamish added that investments are expected to reach $ 100 billion by the end of 2019.

Arab investors pumped the biggest share in the economic zone development project followed by the Egyptians, who account for 25 percent of investments, while the Chinese came in the third spot after being the largest investor in preceding years.

"The Suez Canal Development Project serves the Egyptian economy as well as the global one," Mamish said, adding that the project also contributes to the creation of one million jobs for promising youth, who are considered the hope and future of the country.

He noted that the country has many promising investment opportunities, in which significant national projects are currently taking place, adjusting the region to be one of the most leading Logistics and industrial zones.

Earlier today, Mamish inked a twinning agreement, during the Africa 2018 Forum, attracting more investments to the Suez Canal Economic Zone (SCZone).