Cairo

Prime Minister and Minister of Housing, Utilities and Urban Communities, Dr. Mustafa Madbouli, held a meeting on Tuesday 27/11/2018 to discuss the efforts of the Suez Canal Economic Development Zone, in the presence of Mihab Mameish, Chairman of the Suez Canal Authority and Chairman of the General Authority for the Development of the Suez Canal Economic Zone. Stakeholders.

During the meeting, the Prime Minister praised the ongoing talks between the Suez Canal Authority and DP World to complete the details of the establishment of a joint development company in which the Suez Canal Economic Zone will contribute 51% and DP World by 49% to implement projects in the North West Gulf of Suez region. As part of the Group's interest in investing in the region, which is considered one of the most important investment areas in the world because of its logistical and strategic location.

The Prime Minister welcomed the preliminary understandings agreed upon with the Dubai Ports Group, which include the Group's implementation of its projects in the region in stages, ensuring the speed and efficiency required to exploit this distinguished area and achieving a positive return for the parties, in addition to the external financing which will be pumped through the Group's investments , Which will boost foreign direct investment flows in Egypt in general.

For his part, Mr. Mehab Mameish said that the future investments of Dubai World Group are a new indication of the success of the Suez Canal development project. The entry of a giant investment group such as DP Group in the region will raise the investment rating of the Suez Canal Economic Zone, For many major international companies in the coming period

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