President El-Sisi Stresses the Importance of Technology Localization

President Abdel Fattah El-Sisi met today with Prime Minister Dr. Mostafa Madbouly and Chairman of the General Authority for the Suez Canal Economic Zone (SCZone) Engineer Mohamed Yehia Zaki.
The Spokesman for the Egyptian Presidency stated that the meeting discussed the status of the current and future projects in the SCZone.

During the meeting, the President directed the officials concerned to have the strategy of the SCZone’s projects focused on investments aimed at localizing technology, expanding the industrial capacity, providing job opportunities, and maximizing projects concerning the port system and marine services.

The efforts are to be made in complementarity with the comprehensive development process at the national level, thus contributing to raising the ranking of Egyptian seaports on the global map of maritime navigation and services.

Eng. Zaki presented the financial indicators concerning the investment projects in the SCZone and the existing efforts to enhance the authority’s returns on investment. This will be achieved through discussing, with foreign partners, the matter of establishing various industrial zones in the SCZone as planned.

In this context, the SCZone Chairman discussed the ongoing development in Ain Sokhna and Arish Ports, particularly with regard to the yards, silos, warehouses and docks. Eng. Zaki further pointed out the existing efforts to expand the container handling terminal of the Suez Canal Company and to establish a global center for maritime services.

The executive plan for the integrated region of east Port Said, which includes East Port Said Port, East Port Said Industrial Zone, and a multi-purpose terminal, was also presented.
Moreover, the meeting discussed the cooperation plan between the SCZone and major international automobile companies to be part of the vehicle assembly complex that will be established in East Port Said Industrial Zone. These companies will benefit from this matter in light of the international free trade agreements Egypt has with many regional and international entities.