The Egyptian government has agreed to set up a joint venture with Dubai International Port Managemen

according toEgyptEgyptian President Jean-Claude Sessions announced on August 9 that the Egyptian government agreed to set up a joint venture with Dubai International Port Management Company (DPI) to fully implement the development of the Suez Canal Economic Zone (SCzone) project. President Sessions has pledged that the Egyptian government will provide the new company with the necessary technical and administrative support to ensure that the company implements the development projects on schedule.

Dubai International Port Management is currently responsible for the operation and management of 78 harbors and ports in the world, including Egypt's Ain Sukhna port. The company's chairman and chief executive officer, Sulayem, said the company has developed a comprehensive investment plan for Egypt that will help Egypt achieve sustainable development. The company will invest in the Suez Canal Economic Zone to build industrial, commercial, logistics and residential complexes.