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The agreement being signed

Agility to invest $60m to modernise Suez Canal Economic Zone

CAIRO, October 3, 2022

Agility, a supply chain services leader, will invest $60 million to build a 100,000 sq m customs and logistics centre in the industrial zone in Ein Sokhna in Egypt and another 100,000 sq m customs and logistics centre in East Port Said. The project will be implemented during the second half of 2023. 
 
For this the Suez Canal Economic Zone has signed a contract with Agility at the Egyptian-Kuwaiti Economic Forum in the presence of Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone (SCZONE), and Tarek Sultan, Vice Chairman of Agility.
 
Agility will work with SCZone to implement its strategic vision in the areas of services, logistics, and industrial zone support by establishing a technical and logistical arm that will automate customs processes and operations in the SCZone. 
 
Logistics hub
The automation piece will link the SCZone’s customs departments and relevant government agencies concerned with inspection work. The project, intended to turn the zone into a global logistics hub, will improve the flow of goods and commodities and bring efficiency and lower costs to international companies and investors operating there. 
 
El-Din said: “The signing of this contract today with Agility, a leader in customs modernisation, is consistent with the Suez Canal Authority’s strategic plan 2020/2025, which aims to create an enticing investment environment and further one of Egypt’s key development goals, which is to create job opportunities through integrated, sustainable economic growth. 
 
“This agreement will enable the Suez Canal Authority to improve visibility over inbound materials and finished goods and enhance efficiency through a single-window customs platform. The result will be increased commercial activity, quicker release of cargo and better overall operations.”
 
El-Din added: “This agreement comes in line with the State’s policies in developing the customs clearance services by building an integrated and automated system that raises overall efficiency of customs operations, reducing accumulation of shipments and goods, while providing the best services possible to investors. This in addition to the facilitated coordination and integration between the Ministry of Finance, tax and customs authorities as well as other government bodies with the economic zone.”
 
Economic leader
Sultan said Egypt plays a vital role in global and regional trade. He said the ambitious modernisation project, along with the other strategic development efforts undertaken by the government, demonstrate the country’s determination to be an economic leader in the future.
 
“By developing and modernising the customs and logistics center, the SCZone and the Egyptian government are positioning Egypt to be the one of the world’s most advanced operators and an indispensable 21st century trade partner for Mena, Asia and Europe,” Sultan said. 
"Companies with a presence in the Suez Canal Economic Zone will have access to the world’s best logistics infrastructure and services. They will be situated at the trade crossroads of the world, amid the fastest-growing markets.”-- TradeArabia News Service
 
 



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