Gov’t allocates LE 995M in investments to Luxor

CAIRO – 25 November 2017: Total government investments allocated to Luxor governorate in fiscal year 2017/2018 stand at LE 995 million, the Planning Ministry said Saturday.

The biggest amount of investments will go to the real estate sector, with allocations of LE 181.9 million, followed by the storage and transport sector, with allocations of LE 145 million, the ministry added.

The government has been seeking to ramp up investment in the Upper Egyptian governorate of Luxor.

Earlier in November, Trade Minister Tarek Kabil and Governor of Luxor Mohamed Badr have launched the “Invest in Luxor” website, which shows 56 industrial investment opportunities in Luxor.

The website acts as a knowledge sharing hub offering information on the investment opportunities and operating startups.

Luxor is also set to host the World Customs Organization’s (WCO) Policy commission meeting next month. The meeting, which will take place from 4-6 December, will be the first to be held in one of the Middle East and North Africa’s (MENA) countries.

Luxor enjoys a central geographical location amongst the governorates of Southern Upper Egypt and is considered Egypt's southern portal to Africa as well as the commercial gateway between the Red Sea governorate and Upper Egypt.