POST Online Media Lite Edition


Egypt bets on Suez Canal as main economic source

Staff writer |
With the complete development of its three big ports and six industrial zones, the Suez Canal in Egypt should guarantee the future of the country, said Mohab Mameesh, Chief of the administrative authority of the canal.

Article continues below

In a press conference in the port city of Ismailia, Mameesh explained that to achieve that objective, it is necessary to create new ports, develop the existing ones and build more industrial facilities.

The Suez Channel Zone that is today the main generator of income to the country, he said, will serve the increasing demands of world trade, for the good of future Egyptian generations.

This 2016, he predicted, will be the year of investing companies in the area of the Channel development, which will be facilitated by the hosting on February 22, 23 and 24 of the First Global Conference on the Suez Canal, in Cairo.

During 2015, according to figures released by Mameesh, the traffic through this interoceanic waterway registered a significant growth compared to the previous year. In 2015 the number of ships that crossed the channel increased by 335, for a two percent growth compared to 2014, while net tonnage declared rose by 3.7 percent.

As a consequence, income for Egypt also increased for that concept between 2014 and 2015.

What to read next

Suez Canal breaks record in number of ships, loads
Egypt's new Suez Canal to open on August 6
Egypt expects $150bn to be invested in Suez Canal zone