The Egyptian government has officially announced the establishment of a new special economic zone in Suez Governorate, covering a total area exceeding twenty thousand feddans, targeting direct foreign investment exceeding ten billion dollars in the first five years through a comprehensive package of competitive investment incentives and advantages.
The head of the General Authority for Investment revealed that the new zone will focus in its first phase on industries of the future, including advanced technology and electronics manufacturing, strategic pharmaceutical industries, and the manufacture of green hydrogen energy components, which is one of the most prominent directions of Egypt’s industrial policy.
The new zone enjoys a strategically superior geographical location that qualifies it to become a vital gateway for trade between Africa, the Middle East and Europe, being located near the Suez Canal with direct access to major seaports and logistics networks.
Officials indicated that the zone will feature a “one-stop-shop” system to facilitate establishment and licensing procedures, with competitive tax and customs incentives, and integrated infrastructure covering energy, water, telecommunications and logistics services.
