Dr. Ahmed Mostafa, the economist, confirmed that international praise by global institutions shows the extent of the great economic advancement that Egypt has witnessed since President Abdel Fattah El-Sisi took office in the country, he is the maker of the country's modern renaissance, indicating that Egypt has succeeded in crossing the crisis of the Corona pandemic economically.
Mustafa indicated, during a phone call to the Al-Now program broadcast on the Extra News Channel, that the state’s decision to dig the new Suez Canal in 2015 contributed to reducing the time for ships crossing the shipping route, pointing out that the state offered a package of incentive discounts ranging from 30 to 75% on transit fees. Gas tankers, as well as maintaining transit fees for ships in 2021 such as 2020, in addition to developing the services of the Suez Canal that bore fruit according to the directives of the political leadership, which made the canal's income reach $ 27.4 billion during the past four years from 2016 to 2020, compared to a total of 26.1 One billion dollars from 2011 to 2015, stressing that the income of the canal in the year of the Corona pandemic only decreased 3% compared to 2019, which is a very small percentage due to the stagnation of global trade movement.
The economic expert explained that the Suez Canal accounts for 9% of the total global trade traffic, about 24.5% of the container traffic worldwide, and 100% of the total seaborne container trade between Asia and Europe, and it is intended that the percentage of global trade will increase to 12% during the years. Coming.
Mustafa stressed that the plan for the new fiscal year of the Suez Canal includes the completion of the previous mega projects in addition to new investments and the completion of the construction of giant tunnels under the canal, including 4 tunnels to connect the eastern and western banks, as well as other national projects such as the Fardan Bridge, the purification of Lake Manzala and Mariout, the development of Abu Qir port and the purchase 38 fishing vessels and construction of berths and berths to serve modern locomotives, large draft, and equipment associated with large vessels that cross the canal after the development work.
Mustafa revealed that among the development work that the state undertakes is largely preliminary, which is the development of the canal fleet in terms of capacity and tension, and raising the efficiency of cranes and docks while providing high-capacity energies in the cities of the Ismaili Canal and Suez Port Said, and modernizing the equipment and machinery of the Authority’s workshops, stressing that all of these Steps that contribute to making the great dream of transforming the Suez Canal axis into a sustainable axis that competes globally in the field of logistics services, which has become the subject of international praise as well.
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