Money-laundering opportunity for a lot of people. Lot of Russians and Saudis will line up.
This is an attempt to replicate what made Dubai successful, in Egypt.
The Egyptians are partnering with folks from Dubai Ports World, to try to build a special free trade zone on the Gulf of Suez, just outside of Cairo.
It is a great idea in theory - very convenient to any traffic going through the Suez Canal, and very convenient to the major city of Cairo with it’s rich supply of labor and amenities.
Having Dubai Ports World involved is also a great idea - they have proven their ability to bring together everything required for a world-class business environment - facilities, Government policies - and they bring a huge group of existing businesses who are already satisfied customers from Dubai.
Businesses will be much more comfortable betting on Dubai’s next big project, than they would betting on Egypt’s next experiment. Dubai Ports World brings a lot of credibility to something that has natural geographic advantages.