A delegation from the New Development Bank (NDB)
in the Suez Canal Economy
A delegation from the New Development Bank (NDB), headed by Mrs. Dilma Rousseff, President of the Bank and former Head of State of Brazil, visited the Suez Canal Economic Zone. The delegation was received by Mr. Walid Gamal El-Din, Chairman of the General Authority of the Suez Canal Economic Zone,
Possible means of cooperation were discussed with the bank in areas of common interest, in the presence of Dr. Rania Al-Mashat, Minister of International Cooperation, as this visit coincides with the holding of the first forum of the New Development Bank (NDB), which will be held on the occasion of Egypt’s accession to the bank in March 2023, under the title “Exploring new Horizons".
The head of the General Authority for the Suez Canal Economic Zone presented the potential of the region, which consists of 4 industrial zones and 6 seaports on the Mediterranean and the Red Sea.
It reviewed the vision of the Egyptian state in maximizing the use of the region’s potential by equipping it with infrastructure with international specifications, in addition to the strategy of integration between ports and industrial and logistical areas, which provided a model for supporting supply chains and the movement of trade and industry, and thus this readiness contributed to being
The region has become a center for fuel industries, in addition to the strategic location and readiness of seaports that have enabled it to provide ship bunkering services with fossil fuels and green fuels.
The targeted industrial sectors, such as the food, pharmaceutical and automotive industries,
He also explained the extent of the diversity of incentives within the economic zone through direct and indirect financial incentives, and exemptions for goods that are exported.
