Egypt pushes logistics hub and clears oil debt to lure foreign investment

Egyptian Prime Minister Mostafa Madbouly reviewed a proposal to build a global logistics distribution centre in the Suez Canal Economic Zone, aiming to transform the country from a transit corridor into a production and distribution hub. The plan includes attracting industrial investors such as China’s Sany Group, which announced a $300 million wind‑turbine component factory in the zone.

At the same time, Egypt’s Oil and Mineral Resources Minister Karim Badawi announced that the government has reduced arrears owed to international oil companies from $6.1 billion to $440 million and intends to clear the remaining debt by June 10, well ahead of the earlier June 30 deadline. "The government now plans to settle all remaining overdue payments owed to foreign energy partners by June 10," Badawi said, a move expected to boost confidence and accelerate energy projects across the country.

Together, these initiatives are meant to strengthen Egypt’s position as a regional hub for logistics, manufacturing and energy, and to attract renewed foreign‑investment flows.