Cairo Chamber's Board of Directors, headed by Ibrahim AlAraby decided during urgent meeting to discuss ways of participating in supporting the new Suez Canal Corridor, allocating 20 million pounds from the Chamber's deposits as investment certificates to support the project.
AlAraby said that this amount was initially allocated until Cairo Chamber's treasurer, who was assigned to prepare an adequate study on Amounts that will be invested in the "Suez Canal" Without prejudice to the chamber's current or future projects. He expected that this amount would increase after finishing the study, pointing out that Cairo Traders have great enthusiasm for the successful outcome of this national project, because it has many benefits for the country as a whole besides supporting all economic activities
He added that he felt the traders' enthusiasm for this project during the meeting, and their strong wish for succeeding this project, so they unanimously agreed in participating in this project by purchasing investment certificates. Especially a meeting of Specific Council, which includes chiefs of divisions and board of directors at Cairo Chamber of Commerce, was held before board of directors meeting and unanimously agreed as well.
AlAraby confirmed that during this meeting 10 million pounds from trader's subscription fees ,which represent 25% of 2013 subscriptions, including 5 million pounds as general reserve were allocated for donating to "long live Egypt fund" after Cairo Chamber's trader agreed during the meeting of specific council.
AlAraby called the economic community to actively participate in supporting the country and this project each according to his ability. It will open new prospects in all sectors and flourish the national economy through investment expansions, which will be implemented after completing this project.
He explained that it is expected to make Suez canal zone global center including Logistic, trade, investment, touristic, and urban zones for the benefit of the country .He pointed out that Egyptians have high hopes for this project not only economic community but also the society as a whole.
He confirmed that the Chamber's contribution is not limited to investment certificates or donations only but also there are other efforts now for the success of this project. The Chamber plans to promote this project abroad with European , Arab, and African chambers of commerce, which Cairo Chamber have signed protocol of cooperation with them. There are about 36 protocols and the chamber also will communicate with new chambers to define this project and its benefits.
He noted that this project will mark a significant shift especially in trade and investment aspects in the shadow of expected expansions, which will develop services and contributing in reducing unemployment rates, and establishing huge industrial zone on both sides of the canal, and providing logistic services for navigation and tourism through this project.
