Arab Finance: President Abdel Fattah El-Sisi issued a presidential decree appointing Moustafa Shaikhon as Chairman of the Suez Canal Economic Zone Authority (SCZONE), with the rank of Minister, for one year, effective on August 12.
Shaikhon brings extensive experience to the role, having served as Vice Chairman of SCZONE for Investment and Promotion since March 2025, following a long career with Egypt’s Commercial Representation Service, which he joined in 2000.
He held roles at Egyptian embassies and consulates general in major world capitals and cities, including New Delhi, Paris, Chicago, New York, and Sydney.
He also represented Egypt at major economic and trade forums involving international organizations and blocs, including the United Nations (UN), World Trade Organization (WTO), European Union (EU), Common Market for Eastern and Southern Africa (COMESA), African Union (AU), Organization for Economic Co-operation and Development (OECD), and the G20 Summit in India.
The SCZONE intends to build upon the achievements made since its establishment by presidential decree in 2015. It aims to become the preferred destination for global investment and an integrated pathway for localizing industry and logistics services.
During fiscal year (FY) 2025/2026, the total revenues reached EGP 15.9 billion, marking a 51% increase over the FY's budget projections of EGP 10.5 billion.
