Need a legal representation in Suez Canal Economic Zone?

The Suez is one of the most important and busiest trade arteries in the world, indicating that the Middle East and Africa region, and Egypt in particular, are a strategic nexus for the global trade. The Suez Canal Economic Zone in Egypt is a testament to Egypt’s efforts to become a key player in the global economy. It was created to serve as a hub for international commerce, innovation, and industrialization and has become attractive to both foreign and domestic investors. In turn, the Suez Canal Economic Zone has become Egypt’s catalyst for economic growth. That encouraged foreign businesses to establish their businesses in Egypt using the canal’s strategic location for international shipping, which led to the importance of getting Legal representation in Suez Canal Economic Zone which provided by the specialist’s lawyers at this field.

Why Suez Canal?

The Suez Canal is considered to be the shortest link between the east and the west due to its unique geographic location; it is an important international navigation canal linking between the Mediterranean Sea at Port said and the red sea at Suez. The unique geographical position of the Suez Canal makes it of special importance to the world and to Egypt as well.

Advantages of the Suez Canal as following:

It is the longest canal in the world without locks.
The accidents are almost nil compared with other waterways.
Navigation goes day and night.
The Canal is liable to be widened and deepened when required, to cope with the development in ship sizes and tonnages.
With the adoption of the Vessel Traffic Management System (VTMS) (a system depending upon the most up-to-date radar network), vessels can be monitored and followed on every spot of the Canal and intervention in emergency cases can be taken.
The Suez Canal accommodates the partially loaded VLCCs and ULCCs.

What is the Suez Canal Economic Zone?

The Suez Canal Economic Zone is the Egyptian government’s development project that aims to improve the economic potential of the Suez Canal. It was established to diversify the canal’s ecosystem in order to attract more investment, innovation, and industrialization.

The Suez Canal Economic Zone is strategically located on both sides of the Suez Canal, stretching from the Mediterranean Sea to the Red Sea. This makes it positioned optimally for global trade between Asia, Africa, and Europe. The Suez Canal Economic Zone provides access to international shipping routes.

Suez Canal Economic Zone aims to be one of the main logistics hubs in the region, supported by a number of mega infrastructure projects, especially logistics projects, such as doubling the pathways of the Suez Canal to minimize passing time, cost of operation and attract more vessels and cargos.

In line with its objective to foster economic growth, the Suez Canal Economic Zone also contributes to creating job opportunities and promoting sustainable development. It’s increasing its efforts to contribute to environmental conservation, with most facilities adopting sustainable practices and green technologies.

It encourages foreign businesses to establish operations in Egypt using the canal’s strategic location for international shipping as leverage. In support of this, the Egyptian government has also implemented reforms and objectives to further the Suez Canal Economic Zone’s mission. Among these include enhanced infrastructure development, simplified procedures, regulations, and certain tax exemptions, which needs a suitable legal representation in Suez Canal Economic Zone.