Suez Canal Economic Zone – SCZone Canada Egypt Business Council (CEBC) and Egyptian Business Council for International Cooperation (ECIC) had the pleasure to host an event on Tuesday, April 16th, 2019 discussing the topic; “Economic Zone … The Crossing Portal for the Egyptian Economy” Eng. Motaz Raslan, Chairman of CEBC & ECIC welcomed the honored guests and the respected speaker; H.E. Admiral Mohab Mameesh, Chairman Suez Canal Authority. In the opening remarks, Eng. Motaz Raslan recapped the Egyptian’s economical position in the past 4 years comparing it to its current and expected status. This strategic position was a valuable addition in the development of Egypt’s Economical zone; enhancing its position on the global trade map; given the region’s promising opportunities, huge potential, strong infrastructure, incentives for investors. He pointed out that the past period witnessed large rounds and moves to promote investment opportunities & has succeeded in attracting many of the global investment sectors of the region; to become the promising axis of the global trade movement in the coming years, adding that this seminar is to clarify the investment opportunities in the region. H.E. Admiral Mohab Mameesh, Chairman Suez Canal Authority; expressed his appreciation standing in the middle of all icons of businessmen, Egyptians or Foreigners, as well as everyone who participated in this project. He also stressed that the Suez Canal is considered the past, present and Egypt’s future. He pointed out that the main objective was to improve the specifications of Suez Canal in order to be able to handle the developments of repairing and building ships. He also mentioned that the Suez Canal is currently operating with 25K Egyptian labors only without any foreign labors. H.E. Mohab Mameesh explained that all industries and investors within the region will be attracted to it. Such as oil refining industry, auto assembly, house wares, shipbuilding, wood material, textiles, leather and small & medium enterprises. He then touched base on the Suez Canal revenues which reached 600 million dollars in the first year and he’s expecting that revenues might reach one billion dollars this year. This indicates the success of the Suez Canal; which is considered to be the heart of the world of commerce. He also added that as per President Abdel Fattah Al-Sisi, Suez Canal project and its development project will be the turning point of progress for Egypt & all Egyptians, providing various employment opportunities for youth. The floor was then opened for Questions and Answers session, where several questions and suggestions were discussed considering how the SCZone – economic zone of the Suez Canal is crossing the Egyptian Economy to a distinguished future and strengthening its position on the global trade map.