Egypt reassures the population regarding the abolition of the nationalization of the Suez Canal

Recently, the Egyptian Parliament approved the creation of the Suez Canal Fund, which will be able to carry out various economic transactions, including investments, buying, selling, leasing and issuing government loans. However, this caused concern in the public, since the Suez Canal is the national wealth of Egypt and one of the main sources of foreign exchange earnings for the country's treasury. Some economists warn of the possibility of the canal, which was nationalized in 1956, being taken over by foreign investors. The Suez Canal Authority assures that the canal is not sold, rented or pledged for a loan, and the creation of a new fund will help invest in large projects. However, some experts believe that the new bill could open the door to foreign participation in running the canal, which could change a system that has been in place for decades and brought record profits.