Prime Minister Moustafa Madbouly received Tuesday, August 18, 2026, Moustafa Shekhon, following President Abdel Fattah al-Sisi’s decision to appoint him chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), and Walid Gamal al-Din, the authority’s outgoing chairman, as part of the formal handover of the chairmanship.
At the beginning of the meeting, Madbouly expressed his appreciation for the national efforts exerted by Gamal al-Din during his tenure as chairman of the General Authority for the Suez Canal Economic Zone, particularly amid the state’s efforts to establish the zone as a preferred destination for global investment and an integrated hub for the localization of various industries and logistics services.
The prime minister highlighted the zone’s unprecedented readiness, including world-class infrastructure and utilities, as well as the availability of energy resources and a qualified workforce.
Madbouly also welcomed Shekhon, wishing him every success in his new responsibilities and in continuing the development of the Suez Canal Economic Zone, building on the achievements made since its establishment under a presidential decree.
He underscored the importance of advancing the state’s objective of positioning the zone as a global investment destination, attracting major companies operating in advanced logistics services and enhancing its pivotal role in global supply chains, capitalizing on its strategic location connecting the markets of Asia, Africa and Europe.
For his part, Shekhon expressed his appreciation for the meeting, describing the handover as a distinguished institutional practice that reflects the state’s commitment to ensuring continuity and building on the achievements already made.
He also expressed his gratitude for the confidence placed in him by President Sisi through his appointment to lead the authority during the coming period.
He affirmed his determination to consolidate the zone’s position as a preferred destination for global investment and build on the success stories achieved in recent years through cooperation among the authority, investors, industrial developers and global port operators.
He noted that efforts would focus on attracting investment and facilitating the movement of goods, while expanding industrial localization, promoting technology transfer, boosting exports and creating direct and indirect job opportunities for Egyptian youth across various sectors.
During the meeting, Gamal al-Din expressed his satisfaction at concluding a significant chapter of his professional career with the General Authority for the Suez Canal Economic Zone, which began in January 2020 when he served as the authority’s executive director, followed by his appointment as deputy chairman for investment and promotion affairs, before being entrusted by President Sisi with the chairmanship of the authority in August 2022.
Gamal al-Din extended his sincere thanks and appreciation to President El-Sisi for his valuable confidence and continued support, stressing that the confidence placed in him entailed a great responsibility, which he and his team sought to translate into achievements reflecting Egypt’s ambitious vision for this strategic national institution.
He pointed out that over the past four years, despite the successive crises and challenges facing the world, the authority had contracted a number of projects in industrial zones and seaports, with total investments amounting to approximately US$16.4 billion.
The projects are expected to provide more than 145,000 direct jobs upon completion of their various phases, while approximately 21.3 million square meters of land have been allocated for investment projects.
Gamal al-Din also expressed his appreciation to the prime minister for his continued follow-up and support for the authority’s efforts to localize industry and develop ports, as well as for participating in the inauguration of a number of logistics projects and maritime terminals.
He wished the Suez Canal Economic Zone, its employees, its new chairman Moustafa Shekhon and its partners continued success in pursuing the development drive and building on the achievements made over the past years.
