Head of the Egyptian Journalists’ Syndicate and General Coordinator of the National Political Dialogue (NPD) Diaa Rashwan said the State will not give up its sovereignty over the Suez Canal or any of its assets.

Rashwan’s comments came in a press conference held by the Suez Canal Authority (SCA) on Thursday to clarify the truth about a draft law passed in principle by the parliament, which allows the establishment of an investment fund, with a licensed capital of EGP 100 billion and a paid-up capital of EGP 10 billion.

The proposed fund aims to help the SCA deal with emergencies, absorb external shocks, and enhance its contribution to the national economy.

Source: State Information Service Egypt