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Egypt's Suez Canal Project is China's new initiative's pillar

Egypt's Suez Canal Project is China's new initiative's pillar

Egypt

Egypt’s government says the country’s Suez Canal Project is expected to play a new role in the Belt and Road initiative that China has put forward.

The Asian country’s initiative aims to improve and create new trading routes, links and business opportunities with China.

Egypt says its own shipping expansion project, which was launched in August last year is a natural and perfect fit to China’s plan, that’s expected to revive the ancient route.

The country says connecting the two projects will open opportunities for both global and Chinese companies to use this strategic location to move from Egypt to major markets in Europe.

According to analysts, the Suez Canal development project and related investments are the economic salvation for Egypt.

It will result in the construction of industrial zones and businesses that will make Egypt a business center in the region.

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