Kapci Chairman of the BOD and CEO Eng. Mohamed El Sayed in September, attended the 2021 Port Said Economic Forum. “Increasing Economic growth and cooperation are pivotal and valiant solutions to reduce effects of the pandemic and drive a strong recovery. This forum was an opportunity for business leaders and government to outline their missions and address the most salient issues of our time, such as the need to accelerate job creation and to protect the environment, through sustainable growth in the Port Said economic hub.” Eng. Mohamed El Sayed said. The Kapci CEO participated in the first session titled “The Importance of Industry and its Location in East Port Said.” Leaders from business, government and civil society from Port Said convened at the third Economic Forum which was held from the 14th to the 16th of September 2021. The Minister of Local Development Mahmoud Shaarawy disclosed during the forum that the governorate has several development areas, including natural gas fields as well as four industrial zones in east, south, and west Port Said. During an economic forum held in Port Said, the Chairman of the General Authority for Suez Canal Economic Zone (SCZone), Yahia Zaki, revealed plans to turn east Port Said to an international economic hub and an attractive investment destination by providing direct and indirect incentives, including zero value added tax (VAT) and zero customs duties as well as other incentives related to income tax and digital transformation. The SCZone includes 4 million meters of land plots that are ready for the construction of industrial projects, Zaki added, noting that the authority aims to operate all piers of east Port Said built over five kilometers by 2025. Across the country, 149 industrial zones were established, comprising about 14,900 factories which create 1.2 million jobs, Minister Shaarawy noted. Additionally, another 13 industrial zones are being built as the government works on encouraging the establishment of small- and medium-sized enterprises (SMEs), along with improving housing, education, health, transportation, and social security services, the minister added. The government has given high priority to creating a conducive environment for investment by building a strong infrastructure, Shaarawy pointed out, adding that the number of investment projects reached 39 with total investments of about EGP 5 billion. (Various News Agencies)
