Egypt: President Views Navigation Traffic in Suez Canal Statement

President Abdel Fattah El-Sisi met on 11/4/ 2023 with Prime Minister Mostafa Madbouly, Chairman of the Suez Canal Authority Admiral Ossama Rabiee, President’s Advisor for Urban Planning Major General Amir Sayed Ahmed, and ​​Chairman of the Board of Directors of the Southern Red Sea Arsenal Company Mustafa Al-Dogishi.

The Spokesman for the Presidency, Counselor Ahmed Fahmy, said the President viewed a statement of the navigation traffic in the Suez Canal during the first quarter of this year. The statement showed an increase in the number of ships that passed through the canal by about 20%, compared to the same period last year, and an increase in revenues to record about $2.3 billion, an increase of about 35% compared to last year. The canal also achieved the highest daily transit rate in its history, on March 13, with 107 ships, with a tonnage of 6.3 million tons.

The chairman of the Suez Canal Authority presented the axes and projects for developing the navigational course of the Suez Canal, in addition to the authority’s efforts to modernize its marine fleet, including tugs and dredgers, in light of its pivotal role in securing the navigational course and assisting ships transiting the canal.

President El-Sisi gave directives to continue the implementation of the strategy for the development of the Suez Canal, its navigational course and all its facilities and infrastructure, with the aim of continuing its outstanding performance, which is internationally recognized for its efficiency and ability, in light of its unique position at the level of global navigation and trade.

The meeting touched on ongoing efforts to localize the manufacture of modern fishing ships and boats in Egypt, with the aim of increasing fish production in the Egyptian coasts and lakes.  The meeting also touched on activating yacht tourism, developing its ports, and providing it with the necessary services. The President gave directives to overcome the obstacles and challenges facing the development of this important sector from various aspects, in pursuit of the importance of optimal investment of the natural advantages that Egypt enjoys, in light of its unique geographical location on the Mediterranean Sea and the Red Sea.