Cairo – Mubasher: The Egyptian Minister of Planning and Economic Development, Hala El-Saeed, said that the country's plan for fiscal year (FY) 2021/2022 includes increasing the gross domestic product (GDP) of the Suez Canal at current prices by 5.6% to EGP 99.3 billion from EGP 93.9 billion.
The is part of the medium-term sustainable development plan between FY18/19 and FY21/22, Saeed added in a statement on Sunday.
The Suez Canal is a major lifeline for the flow of global trade as it carries about 10% of international trade, 25% of global containerised cargo, and 100% of seaborne containers between Asia and Europe.
The development plan includes accelerating the digitisation process for linking all concerned bodies in the Suez Canal Economic Zone (SCZone) electronically as well as the industrial and technological localisation through offering incentives and facilities to international companies to invest in the SCZone.
