Egyptian President Abdel Fattah Al-Sissi appointed Mostafa Farouk Ismail Shikhoun as President of the General Authority of the Suez Canal Economic Zone (SCZone) for a one-year term. He succeeded Walid Gamal El-Din, who had led the authority since August 2022.

The appointment of Mostafa Farouk Ismail Shikhoun took effect on 12 August 2026, in accordance with the presidential decree. Since March 2025 he has been the vice-president of the SCZone for investment and promotion. He previously worked for more than twenty years in the Egyptian Commercial Representation Service, which he joined in 2000.

During his career, Shikhoun has served in several Egyptian trade representation offices in New Delhi, Paris, Chicago, New York and Sydney.

According to SCZone, its functions have led to participation in economic negotiations and meetings with organisations such as the United Nations, the World Trade Organisation, the European Union, COMESA, the African Union and the Organisation for Economic Cooperation and Development. He also participated in the G20 summit in India.

The same presidential decree also extended Osama Rabie's term as President of the Suez Canal Authority for one year and appointed Ahmed Khaled Hassan Saeed as Vice-Chairman of its Board of Directors.

Decisions concerning the SCZone, the Suez Canal Authority and the Arab Organization for Industrialization shall take effect for a period of one year from 12 August 2026.

Created in 2015, the economic zone of the Suez Canal covers several industrial areas and port platforms located around the Suez Canal, Egypt. It is dedicated to the development of industrial, logistical and investment activities.

In particular, SCZone is pursuing programmes aimed at attracting new investment, developing industrial activities and building logistical capacity around this main maritime route linking the Mediterranean and the Red Sea.