The Ministries of Antiquities, Environmental Affairs and Tourism are investigating starting the Fayoum development plan at the beginning of 2016, according to a National Centre for Planning State Land Use (NCPSLU) official.
The official added that the plan aims to develop 90m sqm in the region. Due to the possible presence of fossils, this area was initially under the authority of the Tourism Development Authority (TDA) until the excavations were finished.
A meeting between the three aforementioned ministries was held on Monday to study the region’s development plan.
The official also said that, according to the government’s growing interest in increasing investments, the ministers are reviving the northern part of Lake Qarun as a step to benefit the national income as well as local society.
He added that the Ministry of Tourism has conducted research, at a cost of EGP 7m, over the past four years. Unfortunately, they were halted last year. The plan targets not only tourism, but aims to develop local society to benefit residents of the area.
The expected investments will be EGP 30bn, out of which 90% are tourism investments, the official said.
The official added that this development plan will extend to Lake Qarun, thanks to the cooperation between the Ministries of Tourism and Environmental Affairs. It is hoped this will attract investments for the lake’s cleansing operations, and to decrease its pollution level.
According to the Ministry of Tourism, it targets to attract 26 million tourists by the end of 2020 with a tourist income at $26m.