Madbouly urges government to quickly launch projects for private sector with promotional plan

Daily News Egypt
4 Min Read

Prime Minister Mostafa Madbouly presided over a meeting to monitor the progress of the ministries in developing the Golden Triangle Special Economic Zone. He stated that the zone is a promising region with much potential, as shown by various studies conducted by the Ministry of Trade and Industry and other relevant authorities. He pointed out that the region has many resources that should be utilized, and therefore, an economic zone was established and its president was appointed.

Madbouly instructed to expedite the development of this region, noting that he had previously met with the head of the Golden Triangle Special Economic Zone to start implementing projects in the region according to priorities. He also emphasized the importance of having a road map for the development of the region, based on the diversity of activities between tourism, industrial and agricultural sectors.

Minister of Trade and Industry Ahmed Samir suggested that work could begin in the tourist and agricultural areas, as they would provide financing and quick results, followed by the industrial areas. Minister of Public Business Sector Mahmoud Esmat agreed on the need for a general plan and a promotion plan to present to the private sector, but he also stressed the importance of integrating the existing industries with the required industries in the region.

Minister of Planning and Economic Development Hala El-Said highlighted that this zone is a significant opportunity for private sector participation, especially since the state has a vision to enhance the role of the private sector in developing these various projects. Vice Minister of Finance for Fiscal Policies Ahmed Kouchouk proposed that one of the areas in the Golden Triangle could be offered to the private sector within the framework of the state’s current trend to enhance the role of the private sector in the economic fields.

Chairperson of the General Authority of the Golden Triangle Economic Zone Adel Saeed said that the port of Safaga is very important and that the presence of an industrial zone in the region would complement the development work being done for the port at this stage. He disclosed that the Golden Triangle zone, which covers an area of about 2.2 million feddan, has the elements of sustainable development in terms of its strategic location, overlooking the Red Sea, with a coastal strip of about 80 km in length, as well as the presence of the port of Safaga.

Saeed also mentioned that the Eastern Desert of Egypt is distinguished by the mineral wealth it contains, especially in the area between the Safaga-Qena axis in the north, and the Qusayr-Qift axis in the south, where there are phosphate, feldspar, quartz, talc, zinc, gold, granite, white sand, and so on. As for the industrial zones in the Triangle, Saeed pointed out that the region includes seven industrial zones with a total area of 468 sqkm, and that the distribution of industrial zones over the zone as a whole was taken into account to serve the expected manufacturing fields in the region. Regarding the agricultural areas in the Triangle, the head of the Golden Triangle Economic Zone confirmed that there is an agricultural area within the Golden Triangle, as the region includes four agricultural areas with a total area of 733 sqkm. 

Saeed concluded that the Golden Triangle zone is one of the most important economic zones in Egypt and the region and that it will contribute to the economic and social development of the country.

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