Revenues from the Suez Canal Economic Zone increased by 54% – Kommersant
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Revenues from the Suez Canal Economic Zone in the 2023–2024 fiscal year amounted to 5.3 billion Egyptian pounds (about $111.8 million). The indicator increased by 53% year on year.
Chairman of the General Directorate of the Economic Zone Walid Gamal ad-Din spoke about the income at a meeting, the Egyptian newspaper reports. Amwal al-Ghad. Net profit amounted to 3.74 billion pounds (+57%).
Walid Gamal ad-Din announced an “unprecedented increase in income” from the implementation of projects and the conclusion of new contracts in industrial zones. He considers this evidence of the success of the headquarters’ strategy, which is aimed at attracting investment in the industrial sector. Thus, at the end of February, the Egyptian Sovereign Fund and the General Authority of the Suez Canal Economic Zone signed seven agreements with international development companies on cooperation in the field of green hydrogen and renewable energy sources. Investment potential is $40 billion in the first 10 years.
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