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Saturday, 08 May 2021

Egypt allocated EGP 104 bln in public investments to Upper Egypt over three fiscal years: Planning minister

The figures came within the Citizen Investment Plan report issued by the planning ministry that focuses on citizens' investment plans for the current FY2020/21 in Upper Egypt governorates

Doaa A.Moneim , Thursday 4 Mar 2021
Hala El Said
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Public investments directed to Upper Egypt during FY2018/2019 through FY2020 / 2021 amounted to EGP 104 billion, with a growth rate of about 27 percent, compared to the three previous years, Minister of Planning and Economic Development Hala El-Said announced on Thursday.

The figures came within the Citizen Investment Plan report issued by the planning ministry that focuses on citizens' investment plans for the current FY2020/21 in Upper Egypt governorates.

The report showed that the number of development projects in Assiut reached 392 projects and that the value of public investments directed to the governorate in the 2020/21 plan amounts to EGP 7.1 billion, an increase of 16 percent from the 2019/20 plan.

The report indicated that the number of development projects in Luxor is 174 projects, and the value of public investments directed to the governorate in FY2020/21 plan is EGP 2.6 billion, an increase of 45.2 percent over the FY2019/20 plan.

For Fayoum, the report said that the number of development projects there has reached 191 projects, with a total of EGP 2.9 billion in public investments allocated in the FY2020/21 plan, an increase of 38 percent over the 2019/20 plan.

In Minya, the number of development projects has reached 327 projects, with total public investments amounting to EGP 4.1 billion in FY2020/21, an increase of 10.8 percent over the 2019/20 plan.

Looking at Qena, the number of development projects has reached 323, and the value of public investments directed to it in FY2020/21 plan is EGP 6.6 billion, an increase of 59 percent over the 2019/20 plan.

Concerning Aswan, the number of development projects in the governorate has reached 273 projects, with allocated public investments worth EGP 6.9 billion in FY2020/21, an increase of 73 percent over the 2019/20 plan.

The report stated that the sustainable development plan for FY2020/21 attached great importance to the development of Upper Egypt’s governorates, intending to bring about real, tangible, and rapid development that would improve the quality of life and provide decent living opportunities.

The report added that the spatial dimension is one of the main determinants of achieving comprehensive and sustainable development, in a way that ensures the achievement of balanced growth between the various regions of Egypt and the governorates.

The report pointed out the development plan’s interest in policies and potential programs aimed at achieving convergence in living standards and incomes between regions by addressing development gaps and pushing development efforts in line with the components, characteristics, and priorities of each region.

Moreover, the report noted that a strong development push will be dedicated to promising areas to exploit existing opportunities and provide more job opportunities for youth.

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