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New Valley receives EGP 4bn of Egypt’s investments in FY 2020/21: El-Said - Daily News Egypt

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New Valley receives EGP 4bn of Egypt’s investments in FY 2020/21: El-Said

Egypt’s Planning Minister discusses with New Valley Governor possible ways to attract new residents

Egypt allocated EGP 4.09bn of investments to the New Valley governorate as part of the fiscal year (FY) 2020/21 plan, according to Minister of Planning and Economic Development Hala El-Said.

The figure accounts for 41% of government investments directed to the Central Upper Egypt region in the current year’s budget.

During a meeting, on Wednesday, with New Valley Governor Muhammad Al-Zamlout, El-Said discussed ways to provide development opportunities, to attract and resettle residents in the governorate.

El-Said said that the New Valley has many promising investment opportunities, as well as the right competitive capabilities that contribute to creating decent jobs.

She drew attention to the importance of attracting residents to the governorate as part of a resettlement programme, so that they may benefit from the resources it enjoys and to exploit them.

The minister added that the goal is to redistribute Egypt’s population, achieve self-sufficiency in strategic goods, and benefit from the infrastructure available in the New Valley.

To do so, Egypt has been establishing sustainable homes in the area that have the capabilities to run on solar energy and biogas, she said.

El-Said emphasised that the government has attached great importance to establishing new cities, as a means of disbursing Egypt’s population away from the narrow area in which it currently lives. This is particularly important considering the country’s population is projected to grow to 193 million by 2050.

The state plans to establish several new cities as part of its efforts to ease the pressures on current cities, and offer a commensurate reduction in pressures on the available services, according to El-Said.

Al-Zamlout said that the New Valley governorate aims to establish the largest number of integrated model projects for youth in the coming period. It is anticipated that these will contribute to attracting population and reclaim untapped desert areas.

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