Egypt mulls global logistics hub in Suez Canal

Egypt is working to review a proposal for a global logistics distribution centre aimed at strengthening the role of the Suez Canal Economic Zone in international trade.

Prime Minister Mostafa Madbouly reviewed a proposal on Monday to create a global logistics distribution centre within the Suez Canal Economic Zone (SCZone), according to a statement from the Council of Ministers.

The project is part of the government’s strategy to attract more investment and develop high-value-added industrial and logistics activities around one of the world’s major trade corridors.

The meeting, held in Cairo and attended by officials from the Ministry of Investment and Foreign Trade, the Suez Canal Economic Zone Authority, and the General Authority for Investment and Free Zones (GAIF), reviewed several proposals submitted by international companies interested in developing this future platform.

The government did not, however, disclose the identities of the applicant groups. According to the official statement, Mostafa Madbouly emphasised the need to quickly finalise talks with companies deemed credible in order to expedite the project’s implementation.

The PM also requested the development of a dedicated governance framework and a promotional plan to strengthen Egypt’s position as a regional hub for the redistribution of goods.

The review of bids focused on the creation of distribution centres covering various types of goods and products. The relevant authorities presented the progress of the evaluation procedures carried out by the Suez Canal Economic Zone (SCZone), the Ministry of Investment, and the public bodies involved.