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The Suez Canal Economic Zone (SCEZ) is a special economic zone located in Egypt, established in 2015 with the aim of promoting economic growth and attracting foreign investment to the country. [1] The zone encompasses an area of over 461 square kilometers and is located along the eastern and western banks of the Suez Canal. [2]
The concept of the Suez Canal Economic Zone was first proposed by Egyptian President Abdel Fattah el-Sisi in August 2014, [3] as a part of his broader vision for economic development in Egypt. The zone was officially established in September 2015, with issuing of Decree no. 330 of 2015. [4]
The Suez Canal Economic Zone spans an area of over 460.6 square kilometers, [4] encompassing both the eastern and western banks of the Suez Canal. The zone is strategically located at the intersection of major international shipping routes, providing easy access to global markets.
The Suez Canal Economic Zone aims to promote economic growth in Egypt by attracting foreign investment and facilitating the development of new industries. [5]
The Suez Canal Economic Zone is home to a range of world-class infrastructure, a new major expressway linking East Port Said to the regional network, Six new road and rail tunnels to increase cross-canal connectivity, Seven underwater tunnels under the Canal to link Sinai Peninsula to Egypt's mainland, Power, water and telecommunications networks to support integrated development, and Dry port projects at Ismailia and 10th Ramadan to boost the region's logistical capacity. [6]
The economy of Egypt used to be a highly centralized economy, focused on import substitution under president Gamal Abdel Nasser (1954–1970). During the rule of president Abdel Fattah el-Sisi (2014–present), the economy follows Egypt's 2030 Vision. The policy is aimed at diversifying Egypt's economy. The country's economy is the second largest in Africa after Nigeria regarding nominal GDP, and 33rd in worldwide ranking as of 2022.
The Sinai Peninsula, or simply Sinai, is a peninsula in Egypt, and the only part of the country located in Asia. It is between the Mediterranean Sea to the north and the Red Sea to the south, and is a land bridge between Asia and Africa. Sinai has a land area of about 60,000 km2 (23,000 sq mi) and a population of approximately 600,000 people. Administratively, the vast majority of the area of the Sinai Peninsula is divided into two governorates: the South Sinai Governorate and the North Sinai Governorate. Three other governorates span the Suez Canal, crossing into African Egypt: Suez Governorate on the southern end of the Suez Canal, Ismailia Governorate in the center, and Port Said Governorate in the north.
The Suez Canal is an artificial sea-level waterway in Egypt, connecting the Mediterranean Sea to the Red Sea through the Isthmus of Suez and dividing Africa and Asia. The 193.30 km (120.11 mi) long canal is a popular trade route between Europe and Asia.
A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation, trading, quotas, customs and labour regulations. Additionally, companies may be offered tax holidays, where upon establishing themselves in a zone, they are granted a period of lower taxation.
Port Said is a city that lies in northeast Egypt extending about 30 km (19 mi) along the coast of the Mediterranean Sea, north of the Suez Canal. With an approximate population of 603,787 (2010), it is the fifth-largest city in Egypt. The city was established in 1859 during the building of the Suez Canal.
According to most scholars the history of modern Egypt dates from the start of Muhammad Ali's rule in 1805 and his launching of Egypt's modernization project that involved building a new army and suggesting a new map for the country, though the definition of Egypt's modern history has varied in accordance with different definitions of modernity. Some scholars date it as far back as 1516 with the Ottomans' defeat of the Mamlūks in 1516–17.
Ismailia Governorate is one of the Canal Zone governorates of Egypt. Located in the northeastern part of the country, its capital is the city of Ismailia. It was named after Ismail Pasha, who as Ottoman Viceroy of Egypt, oversaw the country during the building of the Suez Canal. It is located between the other two Canal governorates; Port Said Governorate, in the Northern part of Egypt and Suez Governorate.
Port Said Governorate is one of the Canal Zone governorates of Egypt. It is located in the northeastern part of the country, on the Mediterranean Sea at the northern gate of the Suez Canal, making it the second most important harbor in Egypt. Its capital is the city of Port Said, and it is the home of the Suez Canal Authority historical administrative building and the Lighthouse of Port Said.
Port Fuad or Port Fouad is a city in Port Said Governorate, Egypt. Port Fuad is located in northeastern Egypt at the northwesternmost tip of the Sinai Peninsula on the Asian side of the Suez Canal, across from the city of Port Said. Port Fuad is considered a suburb of Port Said and together they form a metropolitan area of over one million residents. Along with the likes of Colón, Panama and Istanbul, Turkey (Asia/Europe), it is one of the few transcontinental cities in the world, in that spans it across two continents.
Egypt and the United States formally began relations in 1922 after Egypt gained independence from the United Kingdom. Relations between both countries have largely been dictated by regional issues in the Middle East such as the Israeli–Palestinian conflict and Counterterrorism. But also domestic issues in Egypt regarding the country's human rights record and American support for the regimes of Hosni Mubarak and Abdel Fattah el-Sisi which the United States had come under controversy for in the aftermath of the 2011 Egyptian Revolution, and with many dissents of the current regime describing Sisi's rule as tyrannical.
Egypt–Russia relations are the bilateral relations between Egypt and Russia. Diplomatic relations between the Soviet Union and Egypt were established on August 26, 1943. Egypt has an embassy in Moscow, while Russia has an embassy in Cairo and a consulate-general in Alexandria.
Egypt's environmental problems include, but are not limited to, water scarcity, air pollution, damage to historic monuments, animal welfare issues and deficiencies in its waste management system.
Egypt–United Kingdom relations are the diplomatic, economic, and cultural relationships between Egypt and Great Britain. Relations are longstanding. They involve politics, defence, trade and education, and especially issues regarding the Suez Canal.
Abdel Fattah Saeed Hussein Khalil el-Sisi is an Egyptian politician and retired military officer who has served as the sixth and current president of Egypt since 2014. Before retiring as a general in the Egyptian military in 2014, Sisi served as Egypt’s deputy prime minister from 2013 to 2014, as its minister of defense from 2012 to 2013, and as its director of military intelligence from 2010 to 2012. He was promoted to the rank of Field Marshal in January 2014.
The Suez Canal Corridor Area Project is a megaproject in Egypt that was launched on 5 August 2014 by President Abdel Fattah el-Sisi and completed in 2015. The project aimed to increase the role of the Suez Canal region in international trade and to develop the canal cities of Suez, Ismailia, and Port Said.
The Egypt Economic Development Conference (EEDC) was a three-day event that took place in the Egyptian Red Sea resort of Sharm El Sheikh, Egypt. On March 13, 2015, over 2,000 delegates from 112 different countries arrived in Egypt to attend the conference.
Ahmed Mahmoud Darwish is an Egyptian politician. He served as the first Chairman of the General Authority of Suez canal Economic Zone from 2015 to 2017. He previously served as Minister of State for Administration Development in the Nazif Cabinet between 2004 and 2011.
Egypt–North Korea relations refer to bilateral relations between Egypt and North Korea. Egypt has an embassy in Pyongyang whilst North Korea has an embassy in Cairo.
Following the Arab Spring, the military tightened its control of the Egyptian economy. Details of the military's role in the economy are unclear given that statistics regarding the economy are absent or known to be wildly inaccurate.
Egypt–Spain relations are the bilateral and diplomatic relations between these two countries. Egypt has an embassy in Madrid. Spain has an embassy in Cairo. Both countries share a common framework in the context of the Union for the Mediterranean.
