Chairman of the Suez Canal Economic Zone Engages in Collaborative Dialogue with DP World Group Chairman

On the sidelines of the participation of the General Authority of the Suez Canal Economic Zone in the activities of the COP28, Mr. Walid Gamal El-Din, Chairman of the General Authority of the Suez Canal Economic Zone, had a productive meeting with Mr. Sultan Ahmed bin Sulayem, Group Chairman, and Chief Executive Officer. The meeting took place at the Economic Zone pavilion in the Green Zone and focused on exploring further avenues of collaboration in areas of shared interest.

At the outset of the meeting, the Chairman of the Economic Zone expressed his satisfaction with the successful partnership between the General Authority and DP World Group in operating the container terminal at Sokhna Port, which is affiliated with the Economic Zone. This partnership recently culminated in the groundbreaking ceremony for the DP World Sokhna Logistics Park. The first phase of this project is expected to be completed in 2024. The Economic Zone Chairman emphasized the numerous promising investment opportunities available for DP World within the Suez Canal Economic Zone, encompassing various ports, industrial zones, and logistics activities. He especially highlighted the imminent completion of development work at Sokhna Port and the strategic location of East Port Said Port, as well as the excellent transit performance and the potential for the food and textile industries in the designated Qantara West region.

The Chairman also presented the investment prospects in Al-Arish Port, primarily used for cement exports and conveniently located near the Eastern Mediterranean countries. He discussed the economic zone’s focus on industrial sectors that align with the needs of regional and international markets.

Mr. Sultan Ahmed bin Sulayem, in turn, expressed his pride in the partnership with the Suez Canal Economic Zone, emphasizing Egypt’s valuable human resources as a key factor that encourages investment. He outlined DP World’s strategy, which emphasizes the importance of investing in industrial regions as a foundation for achieving integration and optimizing port operations. He also emphasized DP World’s commitment to the contract manufacturer policy, which involves partnering with companies for components or products, ensuring efficient port operations, and fostering growth. Mr. bin Sulayem expressed DP World’s keenness to deepen cooperation in new projects with the Economic Zone and commended Egypt’s efforts in developing ports and industrial zones, which have created a supportive investment environment.

It is worth mentioning that the Chairman of the Economic Zone recently witnessed the groundbreaking ceremony for the DP World Sokhna Logistics Park in the Sokhna Integrated Zone, an affiliated area of the Suez Canal Economic Zone. Covering a total area of approximately 300,000 square meters, this project boasts a total investment cost of $80 million.