Egyptian official says Suez Canal 'not for sale' amid fears of foreign investment

The chairman of Egypt's Suez Canal Authority has responded after a parliamentary session discussing a private fund linked to the waterway sparked widespread criticism.
The Evergreen leaves the Suez Canal for the Mediterranean after the signing of the settlement contract, Ismailia, Egypt, July 7, 2021.
The Evergreen leaves the Suez Canal for the Mediterranean after the signing of the settlement contract, Ismailia, Egypt, July 7, 2021. - Roger Anis/Getty Images
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Marita Kassis
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The head of Egypt’s Suez Canal Authority (SCA) announced Thursday that the waterway is open to foreign investment, but he stressed that foreigners would have no control over its management.

Speaking to reporters, SCA Chairman Osama Rabie said, "We cannot sell the canal or rent it. It is the property of Egypt and the Egyptians."

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