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New Suez Canal project likely wont have as many economy benefits as
hoped
Instead, its been called a vanity project for Sisis administration
Despite doubts, it likely doesnt represent a threat to Egyptian national
security
What it could do is restore confidence of foreign investors
Hartwell: [The] economic concerns underestimate the extent to which the project
is as much a prestige political venture designed to bolster the domestic image of
President Abdel Fattah el-Sisi as it is a project grounded in economic certainties.
That said, as well as reflecting political kudos on Egypts new rulers, the scheme has
nevertheless been designed to inject confidence into the economy and convince
Western investors that the Egyptian economy is bouncing back from years in the
doldrums as a result of the prolonged political instability in the country. While the
scheme appears to have helped Sisi consolidate his hold on power, whether it
achieves the latter aim of restoring investor confidence remains to be seen.