Abdel Fattah al-Sisi, President of Egypt, is anticipating up to US$100 billion worth of foreign investment to flood into the new Suez Canal Economic Zone (SCEZ) with the launch of an investment ‘Road Show’ that aims to promote investment from a number of countries in Europe, according to IHS Maritime 360.
However, before the initiative can be a success, the Egyptian government will need to clarify its plans for the new SCEZ as many countries have raised concerns over the lack of detail regarding the project’s development plans.
Sanjay Bhattacharyya, India's ambassador to Cairo, said: “We are very excited and positive after the opening of the new Suez Canal, and Indian companies have a very big interest to do more business in Egypt, but they want to know more details about the area from the master plan.”
A Chinese state media source said: “The Suez Canal project will not only benefit Egypt but will also meet China's ambitious 'One Belt, One Road' initiative. The Maritime Silk Road is an essential component of the 'Belt and Road' initiative.”
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“The new Suez Canal project, located in the centre of the route to the Middle East and Europe, will play an integrated role in the success of China's initiative.”
