Egypt directs LE2.9B public investments to Fayoum in 20/21

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Tue, 02 Feb 2021 - 02:28 GMT

Hala El-Saeed, Minister of Planning and Economic Development- Press photo

Hala El-Saeed, Minister of Planning and Economic Development- Press photo

CAIRO – 2 February 2021: Egypt directed public investments worth LE 2.9 billion to Fayoum governorate through 191 development projects during fiscal year of 2020/2021, according to the government Citizen Investment Plan.

 

Minister of Planning and Economic Development Hala El-Saeed commented that the figure reflects an increase of 38 percent compared to the sum the governorate received in FY 2019/20 and represents 1.1 percent of the total public investments distributed across the country. 

 

El-Saeed added that the growth rate in investments financed by the public treasury and directed to Fayoum Governorate stands at 28 percent.

 

Concerning the distribution of public investments in Fayoum governorate in the FY 2020/21 plan, El-Saeed indicated that LE 988 million of investments were directed to the housing sector and the development of informal settlements representing 34 percent. 

 

“While the local development sector will receive LE 491.6 million, or 17 percent, and the pre-university education sector investments amounted to LE 411 million, by 14.2 percent,” She said.

 

The minister added that the higher education sector allocations recorded LE 276 million or 9.5 percent, the electricity sector LE 173 million or 6 percent, and the other sectors are invested in the amount of LE 560.4 million, or 19.3 percent.

 

This came in the Ministry of Planning and Economic Development’s report where it stated that the most important development goals in the housing sector in Fayoum are to direct about LE 540.3 million to drinking water and sanitation services. 

 

Concerning the pre-university education sector, the plan aims to establish of 97 schools that include 1202 classes.

 

The report pointed to the most important electricity sector projects in the governorate are namely, transferring and rerouting the electrical network that contradicts the national project for the development of national roads, in addition to completing the electrical supply for the project of extracting minerals from black sand.

 

Moreover, the plan aims to complete construction of the College of Nursing and other university facilities at the university campus and in new Fayoum city.

 

 

The Ministry of Planning and Economic Development announced the features of the "Citizen Investment Plan" in Fayoum governorate for the fiscal year (FY) 2020/21. The announcement came as part of the continuation of revealing the citizen's plan in all Egyptian governorates for the second year in a row.

 

El-Saeed said that the sustainable development plan for FY 2020/21 attaches great importance to the development of Upper Egypt's governorates.

 

"The plan intends to bring about real, tangible and rapid development, which is reflected in improving the quality of life," She added.

 

Ensuring spatial justice is one of the main determinants of achieving comprehensive and sustainable development, El-Said explained.

 

The minister indicated that the potential development efforts are based on three pillars, namely giving priority to the development of Upper Egypt governorates, focusing on the rural areas most in need to reduce migration to urban areas, and finally giving a strong development push for promising areas to exploit existing opportunities and provide more job opportunities for youth.

 

The citizen plan covers the most prominent features of the sustainable development plan for FY 2020/21 at the national level and the most important economic indicators for each governorate. This is represented in the gross domestic product (GDP), the real growth rate, the unemployment rate, the number of workers.

 

It also includes the value of public investments directed to the governorate in FY 2020/21, their distribution to different sectors, and the number of projects under implementation in each governorate.

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