Madbouly: The Economic Zone Has Attracted More Than $13.5 Billion in Investments Recently
Madbouly announces the success of the Suez Canal Economic Zone in attracting $13.5 billion in investments.
SUMMARY
Prime Minister Mostafa Madbouly announces the success of the Suez Canal Economic Zone in attracting investments exceeding $13.5 billion, creating 120,000 job opportunities, and signing an agreement to establish the first sustainable aviation fuel factory with Qatari investments.
KEY HIGHLIGHTS
- The Suez Canal Economic Zone witnessed significant momentum and competition among global companies.
- The zone attracted more than $13.5 billion in investments recently.
- Creation of 120,000 new job opportunities thanks to the investments.
- Signing of an agreement to establish the first sustainable aviation fuel factory with $200 million Qatari investment.
CORE SUBJECT
Success of the Suez Canal Economic Zone in attracting investments and developing sustainable projects
Dr. Mostafa Madbouly, Prime Minister, stated that the Suez Canal Economic Zone is witnessing significant momentum and a race among global companies to establish a presence there.
During the weekly government press conference on Wednesday evening, he attributed this great momentum to the vision of the political leadership, the major projects adopted by President Abdel Fattah El-Sisi, and the acceleration in providing utilities, infrastructure, and incentives in the economic zone.
He mentioned that the economic zone has recently succeeded in attracting more than $13.5 billion in investments, contributing to the creation of 120,000 new job opportunities.
He pointed out the signing of an agreement to establish Egypt's first factory for producing sustainable aviation fuel in the economic zone, derived from used cooking oil, with investments from a major Qatari company.
He explained that the company will inject $200 million in the first phase to apply this advanced technology, noting that contracts have been signed with global companies to supply used cooking oil and market the produced aviation fuel.
He indicated that "the project represents the first Qatari investment in the economic zone, in light of the directives of President El-Sisi and Emir of Qatar Tamim bin Hamad to encourage joint investments and Qatari investments in Egypt."
KEYWORDS
MENTIONED ENTITIES 5
Mostafa Madbouly
👤 Person_MalePrime Minister of Egypt
Abdel Fattah El-Sisi
👤 Person_MalePresident of the Arab Republic of Egypt
Tamim bin Hamad
👤 Person_MaleEmir of the State of Qatar
Suez Canal Economic Zone
🏛️ OrganizationStrategic economic zone in Egypt
Qatari company
🏛️ OrganizationQatari investment company investing in the sustainable aviation fuel factory