Al-Ganzoury Held Meeting of the South Valley Development

Prime Minister, Dr. Kamal Al-Ganzoury, held meeting of the South Valley development committee, in attendance of Ministers of Planning and International Cooperation, Electricity, Tourism, Water Resources, Petroleum, Finance, Agriculture, Industry and Foreign Trade, as well as New Valley Governor, General Secretary of the Cabinet of Ministers and senior businessmen and investors.

The Minister of Electricity said that the meeting tackled means of developing South Valley governorates especially New Valley in accordance to potentials of each governorate including the agricultural, metallurgical, animal, archeological an tourism comprehensive development. Dr. Al-Ganzoury called for the necessity of speeding implementation of urgent plan for South Valley development which enjoys massive economic potentials including wide lands, various metallurgical wealth, provision of water suitable for agriculture and electrical grid. The governorate can held pushing development in Egypt, increase exports, attract local and foreign investments, and increase work. The meeting confirmed means of increasing the additional value of the metallurgical wealth and the massive potentials of agricultural crops aiming to increase exports of these crops while enforcing standards and global quality. The Electricity Minister added that the committee approved to set new legislation to support the metallurgical wealth to be presented before the legislative committee for approval by the cabinet of ministers and then the parliament. The legislation will help increasing best usage of metallurgical wealth. He went on to say that many global companies are keen on investing in the governorate and establishing metallurgical projects.

The committee approved the establishment of a fund for renewal energies development to directly affiliate the Prime Minister, to be financed by differences of subsidy presented by the Ministry of Petroleum to generate traditional electricity. The Ministry of Finance approved the establishment of fund, and the renewal energy is expected to reach 20% of the total generated energy in Egypt by 2020, and prices of solar energy generation will be reduced globally due to the technological progress. The committee tackled development of utilities and infrastructure of the governorate especially roads, transportation, bridge and airport. Dr. Al-Ganzoury delegated the Ministers of Foreign Affairs an Industry to solve all problems and obstacles facing exporters where exporters shall be committed to global standards and measures quality He also called for offering investment projects in New Valley through public aids and auctions.