President El-Sisi Follows Up on Suez Canal Authority's Performance and Activities

President Abdel Fattah El-Sisi met today with Prime Minister Dr. Mostafa Madbouly, Assistant to the President for National and Strategic Projects Eng. Sherif Ismail, Chairman of the Suez Canal Authority Lieutenant General Osama Rabie, Chairman of the General Authority for the Suez Canal Economic Zone (SCZone) Engineer Mohamed Yehia Zaki and Director General of the National Service Projects Organization (NSPO) Major General Mostafa Amin.

The Spokesman for the Egyptian Presidency stated the meeting discussed the performance and activities of the Suez Canal Authority as well as the projects of the General Authority for the Suez Canal Economic Zone.

In this context, the President was updated on the volume of Suez Canal traffic during the last period amid the repercussions of the coronavirus pandemic and its impact on global trade. Chairman of the Suez Canal Authority, Lieutenant General Osama Rabie, showcased the Canal traffic forecasts during the current year 2021 and the indicators of the volume of traffic in the Suez Canal during the past period amid the Covid-19 pandemic, including monitoring the number of passing ships, the volume of cargo and size of containers. The Chairman of the Suez Canal Authority expounded that the Suez Canal has achieved positive indicators enabling it during the last period to withstand the pandemic, which was reflected in the number of passing ships, cargo traffic and total revenues of the Canal.

The Spokesman added that Eng. Zaki presented the developments of the projects carried out by the Suez Canal Authority, especially marine services and ship supplies project. This project is carried out in partnership with specialized international expertise and in cooperation with various relevant state authorities. It provides several services; it is concerned with supplying ships, carrying out routine maintenance and treating petroleum waste. Additionally, the project includes a center that provides training programs for sailors and technicians in marine fleets. This project aims to support the market of marine services in the Suez Canal, thus resulting in the increase of vessels crossing the Canal.

The President also was briefed on the ongoing projects aimed to develop and modernize the main sectors of the General Authority for the Suez Canal Economic Zone, including the development and support of the capabilities of the human cadres and investment projects. Moreover, implementation status of the industrial zone in East Port Said, the Port of East Port Said and the projects it entails, and Ain Sokhna Port. The latter is a main Egyptian port on the Red Sea coast, connecting the ports of the Middle East, South Asia and East Africa. It is also expected to link these areas with the Mediterranean coast after the establishment of the high-speed electric train; as a result, cargo and freight-handling rates and transit trade in the port would increase.

The President emphasized the importance of exerting further efforts to enhance the capabilities of the General Authority for the Suez Canal Economic Zone. The President added that concerted efforts among state institutions should be exerted to make the Authority’s projects underway a great success and to ensure that they comply with the highest efficiency standards. The aim is to guarantee attracting various industrial investments, provide more direct and indirect job opportunities, support the national economy and increase foreign exchange flows.