Egypt: SCZone reports 40% YoY leap in profits in 6 months
Egypt - The Suez Canal Economic Zone's (SCZone) income statement for the period from July to December 2024 revealed a 40% increase in net profit compared to the same period in 2024, as per a statement.
The statement included an analysis of revenues generated from ports and other sources, highlighting the growth in total revenues since the establishment of the Authority.
During a recent meeting, the Chairman of the SCZone Waleid Gamal El-Dein reviewed the results of promotional efforts from 2022 to January 2025.
He stated that final approvals were issued for 255 industrial, service, and logistics projects, along with seaport-related projects, with total investments amounting to approximately $8.081 billion.
Gamal El-Dein detailed the scope of these projects and the job opportunities they are expected to create.
He further noted that the total number of companies established in the SCZone reached 366. Over the past period, 68 operating licenses and 131 building licenses were issued.
Gamal El-Dein also presented the status of 10 contracted seaport projects, with total investment costs of around $1.509 billion.
He highlighted the diversity of foreign investments and the role of international companies operating in the region.
The Chairman provided updates on the construction progress of 12 projects in Qantara West from July 2023 to January 2025.
These projects, with a total investment cost of $511 million, are expected to create more than 21,000 job opportunities.
He also discussed plans for East Ismailia industrial area (Tech. Valley), aiming to establish a new urban community driven by investment, education, and research in high-tech industries.
Regarding renewable energy, Gamal El-Dein reviewed the status of ongoing and proposed projects supporting the state's strategy to localize the renewable energy industry.
He highlighted the authority's initiative to expand industrial companies with export capabilities, aiming to localize industries, achieve industrial integration, and boost exports.
In the area of digital transformation, Gamal El-Dein outlined efforts to position the SCZone as a global industrial and investment hub through advanced technology and infrastructure.
This includes the "SCZoneTrade" platform, which integrates operations, and the "E-Tabadul" platform, a national digital platform for connecting local producers and suppliers.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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