ISMAILIA, Egypt, April 16 (MENA) – Prime Minister Mostafa Madbouly said Egypt has shown understanding of the political and economic repercussions of the escalating geopolitical situation in the Red Sea region which posed a major threat to international navigation and affected the Suez Canal revenues.
Egypt has not taken any measures contradicting its regional role, however it took effective steps to solve the root causes of the crisis politically, he said.
The premier added that Egypt is closely following up on conditions in the region and seeks, in coordination with regional and international partners, to maintain the security and stability of the region and ensure that the Suez Canal will continue to play its pivotal role as the main artery of international trade in such a watershed stage.
The premier made the remarks during the Suez Canal Authority’s celebration of “Excellence Day” on the New Suez Canal banks in the presence of a number of ministers, governors, and ambassadors of the EU member states.
He said since the launch of the New Suez Canal in August 2025, non-stop efforts were exerted, thus realizing a leap in the waterway’s development projects.
He highlighted President Abdel Fattah al-Sisi’s continued support for building the human and technical capabilities of the authority, adding that this was the main catalyst for the authority to overcome hard situations and consecutive crises.
He added that there is an unprecedented security crisis in the Red Sea which caused drop in the canal’s navigation rates and revenues.
He expounded that this has burdened the Egyptian state as the Suez Canal is the most important source of hard currency.
Madbouli said there is a major change in the Suez Canal’s activities and services, the scope of its partnerships, as well as its openness to the world.
He added that the Suez Canal has begun introducing and expanding new services, such as ship maintenance and repair services at the authority’s shipyards, marine ambulance services and crew replacements, as well as the safe and sustainable collection and removal of waste from ships transiting the Canal.
This falls within the framework of the authority’s efforts to achieve green transition by 2030.
He referred to a cooperation deal between the Suez Canal Authority and the Greek company Antipollution, one of the largest waste management companies in Greece and the Mediterranean.
He highlighted the state’s efforts to lure more foreign investments and engage in partnerships with major international companies.
He invited ambassadors of the EU and partners of success of the bodies concerned with the maritime transport industry as well as maritime and logistic services to invest in the Suez Canal for the Suez Canal and the Suez Canal Economic Zone to become a global platform for maritime and logistic services.
The prime minister added that the Suez Canal Authority is also working on strengthening national partnerships to localize the industry of building maritime units and tourist yachts.
He underlined the keenness of President Abdel Fattah al-Sisi and the government to support development efforts of the waterway and its maritime services in addition to upgrading the maritime fleet in order to keep the Suez Canal at the top of international waterways. (MENA)
OPEN// PM: Egypt seeks in coordination with regional, int’l partners to maintain security, stability in region Egypt Independent.
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