Egypt Invested EGP 530 Bln in Sinai and Canal Cities Over 10 YrsSource: www.export-egypt.com 10/7/2024, Location: Africa |
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The Ministry of Planning, Economic Development, and International Cooperation announced that investments directed towards Sinai and the Suez Canal cities (North Sinai, South Sinai, Suez, Ismailia, and Port Said) reached EGP 530.5 billion over the past 10 years (FY2014/2015 to FY2024/2025).
This came in a statement that coincided with the 51st anniversary of the 6 October war victories. Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat highlighted that the Sinai Peninsula is a key strategic axis for development in Egypt, thanks to its human and natural resources. She noted that the total investments for projects in Sinai and the Suez Canal cities amounted to EGP 58.8 billion in FY2023/2024. Since the investment map’s launch in 2018, the government has been working to increase investment opportunities, with 377 prospects identified. These include 180 industrial opportunities, alongside the inauguration of three service centres for investors, which were established at EGP 212.7 million to support 7,500 companies. The minister also outlined key developmental programmes planned for FY2024/2025 in Sinai, including various projects in agriculture, irrigation, drinking water, transportation, education, and healthcare services. Expanding infrastructure development in these regions will increase private sector investments, according to Al-Mashat. |
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