Ministers follow-up on South Sinai development plan

CAIRO – 9 October 2017: The Egyptian government is keen to support South Sinai development projects, Minister of Investment Sahar Nasr said in a Monday statement.

In a meeting with South Sinai governor Khaled Fouda, attended by Minister of Irrigation and Water Resources Mohamed Abdel Aaty, Nasr said that the ministry has finished planning South Sinai’s investment zone in Nuweiba.

South Sinai development projects are worth a total value of $947 million, represented in building seven residential complexes, seven agriculture complexes, a university, five water treatments plants and developing roads.

The governor reviewed a 2030 development plan for the governorate, including building an international conventions center, an economic city that includes LE 50 million ($2.8 million) logistics center, a healthcare city and tourist projects.

In August, Nasr laid the foundation stone for the new premises of the General Authority for Investment and Free Zones (GAFI) in Sharm El-Sheikh.

The new branch is deemed the first one of several branches planned in other cities that aim to facilitate business procedures for investors, Nasr previously said; adding that it will also include the Investors Service Center.