Monday, 25 May 2026
Egypt PM highlights major progress in Suez Canal Economic Zone development
AL QANTARA WEST - Egyptian Prime Minister Dr. Mostafa Madbouly has underscored the nation’s accelerated investment in the Suez Canal Economic Zone, following the inauguration of several new industrial projects in the Al Qantara West Industrial Area, near the Suez Canal.
In remarks to reporters at the site, Prime Minister Madbouly expressed his satisfaction at the launch of new projects in a region that, although planned before 2011 as part of the Suez Canal Regional Development Initiative, only witnessed real development momentum in the past three years.
“This area, known as Abu Khalifa, was identified long ago for its strategic location — close to important ports and serving multiple governorates. However, it was only when there was determined political will in recent years that we fast-tracked its development,” Madbouly said.
He noted that the area’s transformation has required significant investment from the state, especially in basic infrastructure over the last eight years, paving the way for both domestic and international investors. “No investor would have come here if there weren’t developed industrial land, an efficient licensing process, and a skilled labor force,” the Prime Minister emphasized.
Madbouly highlighted the scale of the challenge, recalling that the land was once covered with salty seawater up to three meters deep in places. “Today, we stand on the site of a productive factory, thanks to years of determined work to provide the right environment for foreign investors. These investments, amounting to hundreds of millions of dollars, are creating thousands of jobs and boosting national exports,” he said.
The Al Qantara West Industrial Area, covering 20 million square meters, has just completed its first phase. Total investments in developing the area’s infrastructure are expected to reach 15 billion Egyptian pounds (approximately $483 million USD), a cost the government views as justified by the potential returns. Already, 40 new projects are being implemented, including two factories inaugurated during Madbouly’s visit.
The Prime Minister underlined the international dimension of new investments, noting that $1 billion in foreign capital has been injected, creating about 50,000 jobs for young Egyptians. He said that annual exports from these projects could range from $3 to $4 billion, with plans for the area to eventually host 50 factories, generating up to 500,000 jobs and $25 billion in exports upon full completion.
Looking ahead, Dr. Madbouly announced that within two and a half years the projects are expected to be complete, contributing up to $4 billion in exports from this area alone. He reaffirmed Egypt’s target to reach $140 billion in exports nationwide by 2030, with industrial development in regions like Al Qantara West at the forefront of these ambitions.
He concluded by thanking all the teams involved in implementing the infrastructure — from water, gas, and power stations, to roads and telecommunications. “Where there were once just swamps and saline lagoons, today we have a hub of opportunity,” Madbouly asserted, promising to return for another inspection in three months, and expressing hope for even more industrial inaugurations in the near future.