Suez Canal economic zone investments hit $7.1bn so far this fiscal year, chairperson tells OECD in World Economy News 06/05/2026 Investments in Egypt’s Suez Canal Economic Zone (SCZone) have reached $7.1bn so far in the current fiscal year, up from $4.4bn during the previous financial year, the authority’s chairperson said on Monday. The economic zone has succeeded in drawing a total of $16bn in investments from 28 countries over the past three years and nine months, SCZone Chairperson Walid Gamal El-Din stated during a meeting with Mathias Huber Paul Cormann, Secretary-General of the Organisation for Economic Co-operation and Development (OECD). Detailing the zone’s rapid industrial expansion during the talks at the authority’s Sokhna headquarters, Gamal El-Din noted that 172 factories are currently under construction. He added that the number of operational factories within the SCZone has now reached 205, following the inauguration of the National Egyptian Railway Industries Company (NERIC) plant in the East Port Said industrial zone by President Abdel Fattah Al-Sisi last Thursday. That milestone came one week after the prime minister inaugurated nine new factories representing total investments exceeding $180m, the chairperson noted. Cormann’s official visit to the SCZone, which took place on the sidelines of the conclusion of the Egypt-OECD Country Programme, aimed to discuss enhancing joint cooperation and leveraging international expertise to support economic development and improve Egypt’s investment climate. Several SCZone leaders attended the discussions. Gamal El-Din emphasised the importance of the visit in strengthening cooperation frameworks with the OECD, highlighting the value of utilising the organisation’s expertise to develop economic policies and improve the business environment in alignment with Egypt’s sustainable development goals. The chairperson stated that the SCZone represents an integrated developmental model based on the synergy between i