There might still be hope for Egypt’s ailing economy, despite it not being clear to many. In fact, it could enjoy the same benefits as Dubai’s Jebel Ali, with the now dual carriage waterway on the Suez Canal.
Suez Canal today may seem at a disadvantage, what with the competition from the Panama Canal, lower bunker prices, and the turtle’s pace in the global trade. But it has all the potential to transform Egypt’s ailing economy. The $8bn expansion of the Canal will maintain its primary role as the lifeblood of the Egyptian economy, which has been going on for the last 150 years or so.
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9th November 2016