CAIRO, May 14 (MENA) - Prime Minister Mostafa Madbouli said Wednesday extensive tours are being conducted to development zones within the Suez Canal Economic Zone (SCZone) to open up the promising region for foreign direct investment and achieve sustainable economic development through the establishment of major projects in various sectors.

Madbouli highlighted the significant efforts undertaken by the General Authority for the SCZone to develop all its ports and industrial zones, in partnership and cooperation with state institutions, as well as local and foreign private sector, through industrial developers and investors in ports and industrial zones.

Madbouli made the remarks while chairing the weekly cabinet meeting today at its headquarters in the New Administrative Capital. The premier reviewed the results of his tour of the SCZone.

This year is designated as the year of inaugurations in SCZone as several projects were inspected and inaugurated in the East Port Said Integrated Economic Zone and the West Port Said Port. A new factory was also inaugurated, along with expansions of another factory in the Ain Sokhna Integrated Zone, affiliated with the SCZone.

The inaugurations back the state's drive to localize various industries in targeted sectors and open up export opportunities to diverse global markets.

At the beginning of the meeting, Madbouli reviewed the positive results of President Abdel Fattah El Sisi's efforts over the past week, including his official visit to Greece which underscored the momentum reflected in relations between the two countries.

The visit was crowned with the convocation of the first meeting of the High-Level Cooperation Council between Egypt and Greece in addition to the signing of the joint declaration on the strategic partnership between the two countries, and a number of agreements that enhance cooperation in various fields.

He also referred to Sisi's participation in celebrations marking the 80th anniversary of the victory in the Great Patriotic War at the invitation of Russian President Vladimir Putin and in the presence of several world leaders.

Madbouli also referred to key bilateral meetings held by President Sisi during his visit, most notably his meeting with Palestinian President Mahmoud Abbas on the sidelines of the celebrations. The two leaders discussed the latest developments in the Gaza Strip. (MENA)
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