Suez, Egypt (CNN) - The Suez Canal is a crucial seaway and money maker for Egypt. Around 10 percent of oceanic trade will by pass through these narrow waters, earning Egypt over $5 billion a year. It is now helping to boost Egypt's economy even more.

It has long been a vital link between East and West. The Suez Canal sits at a crossroad, linking Asia, Africa and Europe.

Now Egypt wants to squeeze more out of this strategic location.

The idea is to turn this dusty 20 square kilometer patch of land into a special industrial zone called SEZone or Suez Economic Zone.

And one of the first order's of business: making it easier for companies to do business in Egypt by cutting through red tape and government bureaucracy.

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