Cairo – Mubasher: Egypt’s minister of investment and international cooperation Sahar Nasr said that investment in development projects in South Sinai amounts to $ 947 million.
These projects include seven Bedouin built-up areas, seven agricultural areas, El-Tor University, and five water desalination plants, Nasr highlighted in a statement on Monday.
Additionally, these projects will cover developing Oyun Musa road in Sharm El-Sheikh and El-Tor port.
This came as part of Nasr’s meeting with the minister of water resources and irrigation and South Sinai governor to follow up the implementation of development projects in the governorate.
These projects are part of the South Sinai development programme, which is financed by a number of Arabian funds.
Nasr stressed that the Egyptian General Authority for Investment (GAFI) has recently agreed on establishing a Free Zone in Nuweiba.
The GAFI also approved setting up investment zone specialised in tourism activities on an 8,000-acre area in Sharm El-Sheikh, Nasr added.
The minister indicated that the Ministry of Investment is planning to establish a Free Zone in each governorate to improve the climate of investment in Egypt until 2034.
This strategic plan will facilitate transferring and exporting investors’ products of commodities and services.
