Egypt will implement 169 development projects in South Sinai Governorate worth EGP 3.75bn of public investments during fiscal year (FY) 2020/21, the Ministry of Planning and Economic Development revealed on Sunday.
According to Minister of Planning and Economic Development Hala El-Said, public investments directed to South Sinai have increased by 50% from FY 2019/20 plan allocations. This year’s allocations represent 1.4% of the country’s total public investments as part of the Citizen Investment Plan.
The ministry’s announcement for South Sinai comes as part of its continued nationwide roll-out of the Citizen Investment Plan for the second consecutive year.
As part of its announcement, the Ministry of Planning and Economic Development released a report outlining the sectorial distribution of public investments in South Sinai Governorate under the FY 2020/21 plan.
El-Said said that investments worth EGP 1.4bn will be directed to the governorate’s housing sector, at a rate of 36.8%, while the higher education sector is investing EGP 450m or 12%.
“The transport sector has been allocated EGP 327m, whilst the tourism and antiquities sector will receive EGP 322.6m, or 8.6% of the financing,” El-Said said, “Moreover, the water resources and irrigation sector will receive EGP 305m, or 8.1% [of financing], in addition to directing EGP 965m for other sectors, at a rate of 25.7%.”
The Ministry of Planning and Economic Development report noted that the most important development goals in South Sinai Governorate’s housing services in the FY 2021/20 Plan, will see EGP 1bn allocated to water and sanitation services. This comes in addition to the EGP 75.8m directed to build and pave roads, with the governorate’s higher education sector also receiving financing to complete the establishment of the King Salman International University.
The report also referred to the Sinai Peninsula Development Project, which aims to bring about an economic, social, and security boom in the region. The project also aims to provide housing services and public utilities to citizens in the North and South Sinai governorates.
El-Said said that the value of the appropriations listed for this project for FY 2020/21 is about EGP 6.8bn.
The ‘Citizen Investment Plan’ includes the most prominent features of the sustainable development plan for FY 2020/21 at the national level. It also outlines the most important economic indicators for each governorate represented in the gross domestic product (GDP), the real growth rate, the unemployment rate, and the number of workers.
The plan also includes the value of public investments directed to the governorate in the FY 2020/21 plan, their distribution to different sectors, and the number of projects being implemented in each governorate.