Minister of Planning, Monitoring and Administrative Reform Ashraf al-Araby expects the rate of growth of the Suez Canal revenues during the current fiscal year to be 9 percent, compared to about 4 percent last year.
The economic development plan for the current fiscal year included the development of the Suez Canal, through the establishment of a number of projects in many fields, Araby said.
The region is eligible to become a global center for marine transport and logistics and to be a gateway for trade between the East and the West, Araby added.
The economic development plan, which came into force in the beginning of July, included the development of a number of key economic areas in Port Said, Ismailia and Suez, according to the minister.
The project will provide one million direct job opportunities, he added.
The projects scheduled include investments in energy, communications, information technology, tourism and agriculture as well as government services, said Araby.
Edited translation from Al-Masry Al-Youm
