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Publish Date : 30-Apr-2013

Qandil declared that the Egyptian government will continue to launch development projects in the North Coast, Suez Canal, Toshka and the Al-Wadi Al-Gadid.

As per Qandil,"The real development for Egypt is represented in these production projects, especially in the economic area located to the west of the Suez Gulf. The Egyptian government, since taking office, has been working on the Suez Canal Corridor Development Project to transform it from just a waterway to a huge national project. An integrated development plan has been outlined for the whole area, offering hundreds of thousands of direct job opportunities and millions of indirect ones.This is the first step in the Egyptian dream of converting the Suez Canal from a mere waterway that reaps $5.5bn per year, to one that brings in $100bn in revenues annually. Today we take the first step towards making that dream a reality".

An agreement was made by the Qandil's cabinet with the governor of Suez and the Minister of Agriculture and Land Reclamation Salah Khalil to start projects on fish farms, which will be providing up to 15,000 jobs to youths in the Al-Za'farana area.

The Suez Canal Corridor Project will establish a project west of the Suez Gulf through industrial development companies.

The one who will not be serious about the project, the land will be taken from the investors, mentioning to Mohamed Aboul Enein and Naguib Sawiris, despite agreements made with those investors to return the lands.

An agreement with the Chinese company EG-TEDA has also been inked by the Qandil to overtake the northwest area of the Gulf of Suez by setting up a Chinese investment zone.

The zone will be set up with upwards of $1bn in investments and will exist for the purpose of advancing economic development.

In 2012, Egypt's commercial trade with China reached $7bn.

At the beginning of May, Egypt's Investment Ministry would make 14 square kilometres of land available for local and international companies to spur development for the first stage of the zone's construction.

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