Egypt has allocated EGP 244.7bn of investments to the country’s transport sectors in fiscal year (FY) 2021/22, Minister of Planning and Economic Development Hala El-Said said on Thursday.
El-Said investments allocated to the sector increased by 104%.
She stressed that the transport sector development is a national priority, as it is one of the main drivers of economic and social development.
“Through these networks, production centers and consumer markets are linked,” El-Said said.
El-Said added that the transport sector occupies fundamental importance in the national economy due to Egypt’s distinguished geographic location in the middle of international transport routes, and its proximity to major markets in Europe, Africa, and the Middle East.
El-Said pointed out that transportation investments aim to integrate services and extending them nationwide, to link Egypt’s urban communities.
This is in light of the ambitious plan adopted by the Ministry of Transport to strengthen the infrastructure and develop the performance of all types of transport activities.
The report of the Ministry of Planning and Economic Development included a reference to the development vision for the transport sector, as Egypt’s Vision 2030 aims to provide a transport system that achieves sustainable development goals.
Concerning the development goals of the transport sector FY 2021/22 plan, the report indicated that they are represented in the sector’s growth by 3.8%.
Regarding the sector’s production, the plan targets a growth rate of 9.1% to EGP 469bn, compared to EGP 430bn in FY 2020/21.
Egyptian transport sector output is estimated to contribute 4.7% of the real GDP, according to the ministry.
