(MENAFN) Egypt has its fingers crossed that key deals sealed at the Egypt Economic Development Conference (EEDC) will reclaim macroeconomic stability and what it hopes to achieve from the Suez Canal Area Development Project.

More than half of the early agreements inked at the EEDC are already being implemented, including USD21 billion in exploration deals with global oil firms not to mention a USD9 billion gas and wind power project with Siemens.

Moreover, the country's dynamic population, together with its strategic location, will play a crucial part in helping the nation take its competitive lead to another level when it launches its massive Suez Canal Area Development Project.

"The Suez Canal Area Development Project will transform 76,000 square kilometers along one of the world's most important trading routes into an international logistics and commercial hub," said Egypt's President.