The Suez Canal Economic Zone today announced that it has signed a contract with Agility, a supply chain services, infrastructure and investment leader, to develop and operate a customs and logistics center in the Suez Canal Economic Zone, according to the company’s release.
The agreement with Agility was signed during the Egyptian-Kuwaiti Economic Forum in the presence of Waleid Gamal Eldien , Chairman of the Suez Canal Economic Zone (SCZONE), and Tarek Sultan, Vice Chairman of Agility, reports a local Arabic daily.
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.
The automation 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.
Agility invest $60 million to build a 100,000 SQM customs and logistics centre in the industrial zone in Ein Sokhna, as well as another 100,000 SQM customs and logistics centre in East Port Said. The project will be implemented during the second half of 2023.
The aim is to facilitate trade and accelerate the incoming and outgoing processes for the investors inside the zone area.
Following the signing of the contract, Gamal El-Din said: “Signing the contract with one of the leading companies in this field to operate the developed customs logistics center comes within the framework of the authority’s completion of the empowerment phase within its strategic 2020-2025 plan and the completion of all the basic regulations for investment in the region, as well as creating an investment climate capable of achieving integrated and sustainable economic growth, which contributes to providing many job opportunities.
Gamal El-Din added: “This agreement comes in line with the Egyptian state’s policies in developing customs clearance services by building an integrated automated system to raise the efficiency of customs services, reduce the accumulation of goods and provide high-quality service to investors.
This is in addition to the full coordination and cooperation with the Ministry of Finance and the tax and customs authorities which reflect positively on this type of services, especially the integration that takes place between the economic authority and all government agencies.
For his part, Sultan said: “Egypt has always played an important role in global and regional trade, and this ambitious modernization project, along with other strategic development efforts undertaken by the government, demonstrate the country’s determination to be a leading economic country in the future.”
By developing and modernizing customs and logistic service centers, the Suez Canal Economic Zone and the Egyptian government are working to make Egypt one of the most advanced operators in the world, and an indispensable trading partner in the twenty-first century as a link to the Middle East, North Africa, Asia and Europe, he said.
Sultan concluded by saying, “Companies that have a presence in the Suez Canal Economic Zone projects will benefit from the best infrastructure and logistical services in the world, in addition to its distinguished location at the crossroads of global trade routes, among the fastest growing markets.”
