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Al-Saeed: SCZone is a global logistic and economic hub

Tuesday 19/March/2019 - 01:38 PM
Dr. Hala Al-Saeed
Dr. Hala Al-Saeed
Edited By: Rehab Sayed

Dr. Hala Al-Saeed، Minister of Planning، Follow-up and Administrative Reform، participated in the opening of the Regional Conference on Sustainable Growth in the Middle East and North Africa through Investment in Infrastructure organized by the Suez Canal Economic Commission، the Organization for Economic Co-operation and Development and the Embassy of Japan in Egypt. It was attended by the head of Suez Canal Economic Authority، and Dr. Assem Al-Jazzar، Minister of Housing، Utilities and Urban Communities، and the participation of a number of officials from 9 countries and representatives of a number of international organizations.

During the opening session، she stressed the importance of such conferences in exchanging successful international experiences in this field، pointing out that investment in infrastructure and quality improvement is a priority and a focal point for any efforts aimed at achieving comprehensive and sustainable development and achieving many benefits in the short and medium term.

"The State seeks to present Suez Canal Economic Zone (SCZone) to the world as a global logistics and economic hub that will effectively contribute to the development of international shipping and trade، and open wider investment horizons in diverse and promising fields.

The Minister of Planning pointed out that investing in infrastructure and improving its quality is one of the most important structural reforms that contribute to increasing output، enhancing the idea of ​​containing income and increasing economic opportunities. Evidence from international experience indicates that investments in infrastructure provide short and long term benefits، as Increasing public investment by 1% of GDP leads to a 1.5% increase in output over the medium term، so many countries can benefit from an enabling financing environment to improve the quality of their current infrastructure stock and implement New roads. Priorities vary in this area، but they often include the development of the means of land and sea transport and improve infrastructure technology (railway lines - ports - communications)، the minister added.

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