Requests by local, foreign companies being considered to invest in Suez Canal axis

The Suez Canal Economic Zone Authority is currently studying requests submitted by Egyptian, Russian, Spanish and German companies to obtain plots of land for investment in the Suez Canal axis area.

During the meeting of the Egyptian-European business council, Suez Canal Economic Zone Authority Chairman Ahmed Darwish said that the legal entity of the area gives it opportunity to take swift decisions and issue legislation without returning to the governmental bodies. 

The Suez Canal Economic Zone Authority is fully independent and will supervise the project through negotiating with the investors and providing plots of lands and following-up infrastructure development projects, he added. 

The project aims to provide jobs for youths along with improving the investment climate in Egypt, he went on to say.

The project will attain global competitiveness through managing it with international criteria that lure investments, he noted.