The Minister of Investment and International Cooperation Dr. Sahar Nasr met with Governor of South Sinai Maj. Gen. Khaled Fouda. Both sides discussed the governorate’s investment opportunities and plans till 2030, and the utilization of its vast areas that require investment projects as well as proposals on several projects, including the development of Ras Sidr Airport, Sharm El-Sheikh International Airport, Taba Airport, and Al-Tur Port and the establishment of a global Marina Yacht in Sharm El-Sheikh.
During the meeting, the implementation rate of development projects in South Sinai, under the Sinai Peninsula Development Project financed by a number of Arab funds, was discussed. Such projects are worth approximately USD 947 million and include the establishment of 7 Bedouin zones, 7 agricultural zones, Al-Tur University, and 5 desalination plants as well as the development of the Sharm El-Sheik-Oyoun Moussa road and Al-Tur fishing port.
The Minister emphasized that the new Investment Law included several incentives for investors in lagging regions, noting that MIIC was keen on supporting development projects in South Sinai. She added that she would pay a visit soon to the governorate to meet with investors and discuss investment opportunities.
On his part, Governor Fouda gave an overview of the development plan of the area between Tur Sinai, Sharm El-Sheik, Nuweiba and Taba, while referring to the establishment of a free zone at Nuweiba port and rendering it a multi-activities port, and to the establishment of an investment zone at Abu Zanima and a global shopping city in Sharm El-Sheik, and investments in the area straddling the middle road.
He explained that South Sinai included several investment projects which represent good opportunities for Egyptian and foreign investors to invest in South Sinai.