Egypt’s Minister of Planning and Economic Development Hala El-Said has said that the fiscal year (FY) 2021/22 investment plan is distinguished by its great attention to the environment and sustainable development.
The plan also addresses the issue of the transition to a green economy with a focus on environmental improvement initiatives, El-Said added.
The minister added that the state is keen to double green public investments from 15% in FY 2020/21 to 30% in the FY 2021/22 investment plan. This will increase to 50% by the end of 2024/25, with a priority in financing green initiatives and projects.
This is within the framework of the government’s vision and orientations for a green recovery, and for Egypt to have the lead in the Middle East in terms of turning the state’s plan green.
The minister’s remarks came during her attendance at the Senate plenary session, headed by Senate President Counsellor Abdel Wahab Abdel Razek, on Monday, which was also attended by Senate members.
On the development of the tourism sector within the FY 2021/22 plan, El-Said explained that domestic tourism and green tourism will be stimulated. This will come with an added commitment to implementing health and preventive safety measures against the novel coronavirus (COVID-19) pandemic.
El-Said added that the tourism sector will be developed through self-reliance and self-sufficiency in food commodities, livestock, and fish development projects, whilst also localising high-tech industries and added value.
This is in addition to deepening the local component, and allying with international companies to develop the national industry and benefit from the World Trade Organization (WTO).
The minister pointed to the importance of improving the state’s capabilities in the field of risk and crisis management, by establishing departments specialised in risk management. This would see them integrated into government apparatus, and establish funds to counter the financial consequences of crises and push agencies and companies to adopt the same approach.