Egyptian Authorities Consider Creating Logistics Hub in Suez Canal Zone

 Egyptian authorities have considered the possibility of creating a global logistics hub in the Suez Canal Economic Zone, the country's cabinet reported.

"Prime Minister [Mostafa Madbouly] confirmed that the state has ambitious plans to continuously attract investments to the Suez Canal Economic Zone and to localize major projects there. Among these projects is a proposal to establish a global logistics distribution center within the economic zone," the statement said.

Madbouly emphasized that the project will be implemented in accordance with the directives of President Abdel Fattah el-Sisi aimed at attracting foreign direct investment and strengthening Egypt's position as a regional and global trading hub.

The prime minister instructed the cabinet to intensify cooperation with relevant companies, finalize contract agreements, and develop clear rules for managing the hub's operations.

"The meeting reviewed proposals submitted by several companies for the establishment of global logistics distribution centers for various goods and raw materials," the statement highlighted.

In April, Russian Presidential Aide Nikolai Patrushev reminded Egyptian Transport Minister Kamel El-Wazir of the need to create a grain and energy hub in Egypt. The sides also discussed expanding commercial shipping, creating new routes, and modernizing ports in Russia and Egypt.