6 facts about the second Suez Canal
Egypt ranked 119th out of 144 economies in last year’s Global Competitiveness Report, and 97th out of 138 in its Global Enabling Trade Report. The canal expansion is intended to improve these performances. It’s also intended to address youth unemployment, a particular concern in a country where 60% of the population is under 40 years old. Egypt’s President Abdelfattah Said Hussein Alsisi told delegates at the World Economic Forum’s Annual Meeting that once the expansion is open, “the second phase will entail developing the canal zone and opening the door for investment”.
Here are some facts about the Suez Canal expansion: