Infrastructure
President Abdel Fatah al-Sisi inaugurated on June 29, 2020 Sphinx Airport on Cairo-Alex Road and the New Administrative Capital airport via video-conference.
Prime Minister Moustafa Madbouli said the government upped the proposed investment budget for the coming fiscal year to LE 230 billion against LE 150 billion in the current fiscal year.
President Abdel Fatah al-Sisi, who currently chairs the African Union (AU), and UK Prime Minister Boris Johnson inaugurated on Monday the UK-Africa Investment Summit 2020 in London.
President Abdel Fatah al-Sisi will take part in the UK-Africa Investment Summit 2020 to be held on Monday.
Also, the president expressed a number of recommendations.
The president inaugurated the project on Tuesday.
“Development is a human right,” said Egyptian President Abdel Fatah El Sisi at the Africa 2019 Conference in the New Administrative Capital.
That is the reason Egypt has become the most attractive to investments on the continent, the minister said.
Madbouly highlighted that Egypt is on the right track.
About 1,000 investors representing major, small and medium sized- businesses have been invited to the summit.
Country Manager Malinne Blomberg stated on Monday that the African Development Bank (AfDB) supports five main realms on the continent, highlighting that they match Egypt’s development agenda.
The upcoming projects are within the 2017-2020 Unified Support Framework worth €500 million by the European Bank for Reconstruction and Development (EBRD).
That is according to Managing Director for the Southern and Eastern Mediterranean (SEMED) region at EBRD Janet Heckman.
The Ministry of Irrigation and Water Resources revealed the progress achieved in the North Sinai Development Project aimed at claiming 400,000 feddans.
The Ministry of Housing, Utilities, and Urban Communities will finish in August the execution of 1,440 residential units within Sakan Misr initiative, and 1,584 social housing units distributed among 66 buildings in Asyut.
The World Travel and Tourism Council has put Cairo on the list of the top cities that are expected to receive more tourists in the next decade.
Prime Minister Mostafa Madbouly departed to Germany on Sunday heading a delegation of 130 individuals to attend the 22nd Arab-German Business Forum.
The first decree is to establish a representative office of IsDB in Egypt and the second is further cooperation with Tunisia in the maritime transport sector.
The House of Representatives approved the Ministry of Manpower’s draft budget for the fiscal year 2019/2020.
The Municipal Authority of Aswan Governorate and the Armed Forces Engineering Authority signed earlier this week a cooperation protocol worth LE609 million ($35.5 million).