Egypt Economic Development Summit represents a ‘grand economic revolution’ for the state, head of the Canadian Chamber of Commerce Fayez Ezz El Din said on Sunday.
On the sidelines of the economic conference, Ezz El Din said to Dina Abdel Fattah’s “60 Minutes” radio show, that Egypt is in the process of entering a new stage characterized by a huge economic leap. This stage is going to make Egypt restore its leadership among world countries, he noted.
The country is currently developing massive infrastructure projects, such as the expansion of the Suez Canal, designed to double daily capacity in the strategic waterway, and the launch of an associated industrial and logistics hub that will encourage growth in the wider Canal zone. Supported by investment, tax and subsidy reform—creating an environment for the growth of small- and medium-size enterprises—these projects have been instrumental in attracting foreign direct investment.
