Friday 22 Nov
Coinciding with the anniversary of the glorious October victory the Ministry of Planning, Economic Development, and International Cooperation highlighted the substantial public investments and development financing allocated for the Sinai Peninsula's revitalization. Recognizing Sinai's strategic importance, the government has committed significant resources to this region.
Since 2014/2015, public
investments in Sinai and the Canal Cities (North Sinai, South Sinai, Suez,
Ismailia, and Port Said) have totaled approximately 530.5 billion Egyptian pounds.
These funds have been directed towards various development projects aimed at
transforming the region.
Minister Rania Al-Mashat Dr.
Rania Al-Mashat emphasized Sinai's pivotal role in Egypt's strategic
development. Its unique geographical location, rich history, and abundant
natural resources make it a cornerstone of the national economy. In recent
years, Sinai has witnessed remarkable progress in infrastructure development
and improvements in social services, education, and healthcare. These
advancements have created thousands of jobs and attracted investments,
fostering economic growth and connectivity between Sinai and other Egyptian
regions.
The Minister further highlighted
the government's commitment to attracting investment to Sinai. In fiscal year
2023/2024, public investments in Sinai and the Canal Cities reached 58.8
billion Egyptian pounds. To facilitate
investment, the government has established an investment map showcasing 377
opportunities across various sectors, including 180 industrial projects.
Additionally, three investor service centers have been opened at a total cost
of 212.7 million Egyptian pounds, providing support to over 7,500 companies.
Dr. Al-Mashat outlined the key development programs planned for Sinai in the 2024/2025 fiscal year. These initiatives encompass agriculture and irrigation, water supply, transportation, storage, education, and healthcare. By investing in infrastructure, the government aims to create a conducive environment for private sector participation. This strategic approach will stimulate economic growth and enhance the region's overall development.
