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  • 31-08-21

    Egypt aims to increase GDP of Suez Canal by 5.6 percent

    (MENAFN) In the current year, as a new economic zone around the water-way is improved, Egypt is aiming to push the Suez Canal beyond its pre-pandemic gain.

    The plan is to improve the GDP of the canal by 5.6 percent, increasing to SR23.68 billion (USD6.31 billion) by the end of 2021/22, according to Minister of Planning and Economic Development Hala Al-Saeed.

    In addition, to increase the economic revenues of the near 200km long stretch of water, it is planned to improve its economic zone and to become high-tech industrial and logistical zones, a government report showed.

    The report further declared that there is going to be supportive elements for efforts to improve the international competitiveness of the Suez Canal on the map of global shipping lanes.

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