- EGYPT
- May 14, 2013
- 4 minutes read
PM Qandil: Suez Canal Region Development Project Already Launched
In his speech during a Suez Canal development conference Monday, Dr. Hisham Qandil, Egypt’s Prime Minister, stressed that the draft law on the development of the Suez Canal region takes into account all national security and armed forces criteria.
"We are keenly aware of and determined to safeguard the security of our homeland. This is the position of the government and the opposition, without a doubt. There are no land sales involved in this huge project, only lease contracts.
"Some people tried to distort the picture and undermine the tremendous efforts invested in this project. We hope that things are clearer now that full information on this project has been revealed at today’s conference."
Qandil further said: "We are endeavoring to meet the challenges and achieve the goals of our great people. This project underwent a thorough study.
"This new project will be linked to earlier development projects in the region, such as the East Port-Said and Western Gulf of Suez projects – within the framework of a comprehensive, all-inclusive plan. There certainly is need for a law that regulates this work and institutional framework for the licensing, land allocation and daily interaction with investors.
"The goal of the new Suez Canal Development law is to organize and coordinate the work among investment areas in Egypt and to facilitate procedures. Leasing of land in the project will be subject to existing laws applied in other development and investment initiatives in Egypt."
In conclusion, Prime Minister Qandil pointed that some projects in the context of Suez Canal region development will start immediately, while various studies continue for the rest of the project, adding that among the projects starting immediately are tunnels that will pass under the Suez Canal.
