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Suez Canal to coordinate investment incentives amendment with government

Thursday 27 September 2018 01:32 PM

head of SCA Muhab Mamish.
head of SCA Muhab Mamish.

Al Mal:
Suez Canal Authority (SCA) will coordinate with the government an amendment of the investment incentive policies in its zone, in order to enhance the stimulus to economic activity, head of SCA Mohab Mamish  said.

The government needs to accelerate the process of designing an adequate system of incentives to investors that have serious plans in the country. On the contrary, investors that do not achieve any development within three years, should be excluded from the scheme, he added.

The government is taking steady steps in encouraging economic growth, in order to take advantage of its geographical position, despite the fierce competition of the ports of Aqaba in Jordan, Tangier in Morocco and Jebel Ali in the United Arab Emirates (UAE), he noted.