Over LE 700 billion of investments were/are being implemented to develop Sinai in 8 years: Cabinet



Mon, 25 Apr 2022 - 11:17 GMT


Mon, 25 Apr 2022 - 11:17 GMT

FILE - Social housing units in Sinai - Egyptian Presidency

FILE - Social housing units in Sinai - Egyptian Presidency

CAIRO – 26 April 2022: Investments amounting to more than LE 700 billion were and are being implemented to develop the Sinai Peninsula over eight years, the Egyptian Cabinet said in a lengthy report.

The report was published by the Cabinet’s Media Center on Monday on the 40th anniversary of the Sinai Liberation Day.

On April 25 of every year, Egypt celebrates Sinai Liberation Day, as the last Israeli soldier left the peninsula and the Egyptian flag was raised on the turquoise land of Sinai on 25 April 1982.

Total public investments for Sinai and Suez Canal cities have amounted to LE 45.1 billion in 2021/2022, compared to LE 6.2 billion in 2013/2014, with an increase of 627.4%, the report said as it highlighted efforts to develop investment and industrial infrastructure to attract and encourage investors in Sinai and Canal cities.

The Micro, Small and Medium Enterprises Development Agency has funded 42.5 thousand projects in Sinai at a cost of about LE 1.8 million until February 2022, the report said.

Also, the National Project for Community, Human and Local Development (Mashrou'ak) "Your Project" funded 5,428 projects until mid-April in North Sinai, Ismailia and Suez with a total investment of LE 5.5 million.

Concerning agricultural development in Sinai and the Canal cities, the most prominent agricultural projects included Sinai Development Project, where the total area is 1.1 million feddans, of which 239 thousand feddans were cultivated until the end of March 2022. A total of 18 agricultural clusters were established with a total of 2,122 beneficiaries, the report said.

Greeting on Sinai Liberation Day

President Abdel Fattah El-Sisi addressed the nation Monday marking the 40th anniversary of Sinai Liberation, describing the peninsula as a precious portion of the homeland.

"All Egyptians hold for Sinai an eternal appreciation and view it as the pearl of the crown. Sinai will always remain a source of pride for this nation, as it is the only land in the world visited by God, and the spot chosen by the creator to inspire the first Abrahamic religion. As such, its religious and historic status is non-contested," President Sisi noted.

The chief of state added that "Sinai's unique geographical location grabbed attention throughout history, as it is the meeting point of the ancient world's continents, and the link between the East and the West."

"April 25 will remain immortal in the memory of our nation, as it is an embodiment of the strong willpower of generations that valued the sense of belonging to their homeland, and hence, committed themselves to defending its soil. As a result, they highly waved the flags of victory in the sky of national pride and dignity," President Sisi said, sending greetings to those who contributed to restoring Sinai from the occupier, which was Israel.

"I greet the immortal souls of the martyrs …I greet Egyptian diplomats who fought the battle of negotiations, embracing all patience and perseverance to recover the beloved land. I greet the soul of late President Mohamed Anwar al-Sadat, who made both decisions of war and peace, with the bravery of knights and wisdom of a leader who aspires for creating a climate favorable for all peoples that treasure peace. Thus, we got back our land only to start a new phase of developing our precious Sinai, given that development is its first line of defense," the president underscored.

In that context, President Sisi showcased that ongoing developmental projects in Sinai are aimed at leveraging its resources and securing a better life for its dwellers.

The president highlighted that the 40th anniversary of Sinai Liberation coincides with the 50th anniversary of the 10th of Ramadan Victory, which is the date of the 6th of October, 1973 Victory on the lunar calendar. He added that the anniversary also coincides with the Eastern Easter, marking April 25 this year.

"I seize this opportunity to greet Egyptian Christians again. I also greet Muslims on the occasion of Ramadan nearing its end and Eid coming next week," President Sisi said.

Switching to another topic, the president underlined: "In light of utmostly complicated regional and international events, the comprehensive force of the state comes on top of the state's priorities. The state anticipated the horizons of the future with a deep vision of events, variables and international developments. Thereby, we reached a conviction, which is that, who wants peace, has to possess the necessary power that is capable of maintaining such peace. From this point, I greet members of the Egyptian Army…who are always ready to protect a nation that has put its ultimate confidence in them and in their capabilities."

"In tandem with developing the military capabilities, we also move forward with developing the rest of the state capabilities. The most crucial of which is economic capabilities, as we look forward to founding a national strong economy, that is able to fend off various crises, and would enable us to achieve high growth rates that would create many job opportunities for our promising youths," the president stipulated.



Leave a Comment

Be Social