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Suez Canal Economic Zone Attracts 127 Projects Worth $2.8 Billion in 9 Months

Egyptian Prime Minister Mostafa Madbouly meets with head of the Suez Canal Economic Zone Walid Gamal El-Din. (Asharq Al-Awsat)
Egyptian Prime Minister Mostafa Madbouly meets with head of the Suez Canal Economic Zone Walid Gamal El-Din. (Asharq Al-Awsat)
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Suez Canal Economic Zone Attracts 127 Projects Worth $2.8 Billion in 9 Months

Egyptian Prime Minister Mostafa Madbouly meets with head of the Suez Canal Economic Zone Walid Gamal El-Din. (Asharq Al-Awsat)
Egyptian Prime Minister Mostafa Madbouly meets with head of the Suez Canal Economic Zone Walid Gamal El-Din. (Asharq Al-Awsat)

Chairman of the Suez Canal Economic Zone (SCZONE) Walid Gamal El-Din said that 127 projects worth around $2.8 billion were secured during the period between July 1, 2023 and March 21, 2024.

He added that 61 projects received final approvals, with a foreign investment rate of 49 percent, while 66 projects have been granted initial approval during the same period, with foreign investments accounting for 39% of the total.

The completion of these projects is expected to generate over 22,000 direct and indirect job opportunities, Gamal El-Din underlined, noting that from January 2024 to the present, 37 diverse projects have been contracted at an investment cost of $894 million.

The chairman unveiled these figures in a statement following a meeting with Egypt’s Prime Minister Mostafa Madbouly.

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Riyadh to Host 3rd Edition of Saudi Tourism Forum Under the Slogan ‘To Discover’

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
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Riyadh to Host 3rd Edition of Saudi Tourism Forum Under the Slogan ‘To Discover’

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)

Riyadh is set to host the third edition of the Saudi Tourism Forum from January 7 to 9 at Roshn Front.

Organized in partnership with the Ministry of Tourism, the Saudi Tourism Authority, and the Tourism Development Fund, the event will run under the theme "To Discover."

This year’s forum serves as a dynamic platform to highlight new and unique tourist destinations across the Kingdom, offering visitors innovative experiences while showcasing Saudi Arabia’s diverse tourism potential. With over 100 exhibitors, the forum provides an expansive space to explore the latest developments in the tourism sector, spotlight major investment projects, and foster skill development and partnerships to drive tourism growth.

Chief Executive Officer of 4M Event and Chairman of the Forum’s Organizing Committee Eng. Hamza Nasser emphasized the forum’s role in advancing collaboration within the tourism sector. "Through the forum, we aim to promote the beauty of Saudi tourist destinations, enhance cooperation among stakeholders, and raise awareness about investment and development opportunities. This aligns with the goals of the Kingdom’s Vision 2030,” he said.
Since its inception, the Saudi Tourism Forum has significantly advanced efforts to promote the Kingdom's rich cultural heritage and distinctive tourist sites. Supported by prominent partners and sponsors, the event underscores a shared commitment to developing this vital sector.
The program will feature a variety of seminars and workshops, offering insights into the latest trends and developments in tourism. Attendees will have the opportunity to engage with keynote speakers, decision-makers, and industry professionals, enhancing their skills and knowledge.
The forum is expected to attract a diverse audience, including business leaders, investors, officials, and dignitaries, creating fertile ground for collaboration and partnerships.