Cairo - Mubasher: The General Authority for Suez Canal Economic Zone reported a rise in profits by 64% during fiscal year 2017/2018, according to Chairman Mohab Mamish.

Profits amounted to EGP 2.13 billion in FY17/18, compared with EGP 1.3 billion in the year before.

Official data showed that the Suez Canal Economic Zone is currently the fifth profitable among economic entities, the statement added.

New agreements signed since November 2017, on the sidelines of the World Youth Forum in Sharm El Sheikh, have helped the authority’s ports operations.

Mamish also stressed that the economic zone will become a global leading trade center in line with the efforts to push the Egyptian economy forward by 2025.