Egypt, Middle East
The Suez Canal is at the heart of international trade and is a vital source of revenue to the national government. The objective of the Suez Canal Area Development Project (SCADP) is to leverage the key assets of the region – including the canal and the numerous ports – to promote and stimulate economic development in the region through the creation of an international economic and logistics hub. Total job creation is estimated at 1 million over 15 years.
The Project Area covers 5 governorates including Port Said, Ismailia, Suez, North Sinai and South Sinai. In total the Project covered a 2014 population of 2.9 million.
Economic services provided included:
- Formulating a sustainable Regional Development Strategy to guide the socio-economic development of the region to 2050. This Strategy builds upon the region’s competitive advantages, capitalises upon opportunities and addresses current constraints. To inform this Strategy, the following were carried out: (i) a macroeconomic baseline assessment identifying key trends in GDP and employment; (ii) a benchmarking assessment of similar economic zones; and (iii) an industrial analysis which assessed the historic performance and potential of key manufacturing sub-sectors.
- Developing an Inward Investment Strategy which identifies investment needs and potential financing mechanisms and sources. This includes recommending a suitable supporting institutional structure, developing a marketing strategy and a plan for a roadshow.
- In support of the priority projects, financial pre-feasibility studies were undertaken for 3 development zones, 2 port expansion projects and 2 logistics centres.
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