Cairo – Mubasher: The Egyptian government is looking to invest EGP 8.22 billion in developing North and South Sinai in fiscal year 2020/2021, up by 57.3% from EGP 5.23 billion in FY19/20, the Minister of Planning and Economic Development, Hala El-Saeed, said.
North Sinai has acquired EGP 4.54 billion of the total planned government investments for FY20/21, while EGP 3.68 billion has been allocated to the development of South Sinai, El-Saeed added in a statement on Monday.
The services sector accounted for 30.8% or EGP 1.445 billion of total government investments allocated to North Sinai, followed by the agriculture and land reclamation sector by 14.3% (EGP 648.8 million), electricity sector by 11.1% (EGP 505.5 million), as well as water and real estate sectors by 10% each.
In addition, the water sector made up 23.6% or EGP 869.1 million of total government investments allocated to South Sinai, followed by the other services sector by 17.6% (EGP 646.8 million), the agriculture sector by 15% (EGP 554.5 million), and the education services sector by 14.5% (EGP 532.6 million).
