SUEZ, Egypt, Feb 27 (MENA) - Prime Minister Moustafa Madbouli on Thursday embarked on an inspection tour of a set of projects in Sokhna Industrial Zone, which is affiliated to the Suez Canal Economic Zone (SCZONE), to inaugurate a number of factories in the industrial zone and follow up on progress achieved in the underway renovation work at Ain Sokhna port.

The premier is accompanied by Deputy Prime Minister for Industrial Development and Minister of Industry Kamel el-Wazir, Minister of Planning, Economic Development and International Cooperation Rania el-Mashat, Suez Governorate Tarek el-Shazly and SCZONE Chairman Walid Gamal el Din.

A galaxy of the executive leaderships of the SCZONE are also accompanying the prime minister during his tour.

During the tour, Madbouli emphasized the great importance attached by the State to the SCZONE, in light of its considerable economic and investment potential that qualify it to become a hub for various industries, in particular green fuel manufacturing and ship bunkering services.

The government, in accordance with directives of President Abdel Fattah El Sisi, provides facilities to attract investments to the SCZONE, in order to ensure its economic sustainability along with removing administrative hindrances facing investors, he said.

The prime minister highlighted the crucial role played by the SCZONE in developing the national industries and their localization.

He also said his current visit to the economic zone falls within the framework of inaugurating several projects financed by local and international investments, as a testament to the great success achieved by this area in becoming a model for international economic cooperation towards development.

Meanwhile, SCZONE head said the economic zone aims to bolster the Egyptian economy by attracting investments in 21 industrial and service sectors, including pharmaceuticals, building materials, textiles, green fuel industry supplies, and data centers.

Projects of the zone aim to reduce the import bill, diversify the production, develop value-added manufacturing industries, localize the green fuel industry along with enhancing ship bunkering activities with both fossil and green fuels, Gamal el Dien added.

The SCZONE has made remarkable investment achievements throughout the past 30 months, including securing contracts worth a total dlrs of 8.1 bn to implement 255 projects in its affiliated industrial zones and ports, the head of the economic zone said, adding that as many as 120 factories are currently under construction in the zone simultaneously. (MENA)

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