The CEO of the Suez Canal Economic Zone (SCZONE), Waleid Gamal Eldien, met with the ambassador of Peru to Egypt, José Betancourt, on Monday to discuss potential cooperation in port activities. The meeting aimed to explore the opportunities for trade and investment between the two countries, as Egypt has many agreements with Latin American countries that allow it to access their markets. Gamal Eldien said that the SCZONE is ready to host various industries, as it has invested nearly $3bn in improving its infrastructure and services for investors. He also said that the SCZONE is developing its ports to ensure their readiness and efficiency. He added that the SCZONE offers attractive and supportive incentives to investors, both financial and non-financial. Gamal Eldien pointed out the possibility of cooperation with Peru through the SCZONE's ports, especially the East Port Said Port, which is the closest port to Peru. He also highlighted the importance of integration between ports and industrial areas in facilitating the transportation of raw materials and products to and from the manufacturing areas. He stressed the SCZONE's keenness to provide innovative and sustainable solutions for port development. Betancourt praised Egypt's recent economic development under the leadership of President Abdel Fattah Al-Sisi. He also emphasized the importance of cooperation with the SCZONE, especially in the field of ports. He said that Peru is working to complete the work at the Chancay Port, which will become an important maritime center connecting South America through the Belt and Road Initiative. He said that this initiative will help Peru build a logistics distribution center along the Pacific coast, and promote regional economic and social development. He explained that it is possible to cooperate with the SCZONE's ports in this regard, as they are also part of the Belt and Road Initiative. He said that he will visit the East Port Said Port next week. The East Port Said Port, affiliated with the SCZONE, witnessed the first ship bunkering operation with green fuel in the Eastern Mediterranean last August. The port also ranked 10th in the world in terms of container handling, according to a report issued by the World Bank for 2022.
