Red Sea governor presents investment opportunities at EES

HURGHADA, Egypt - 16 November 2017: Ahmed Abdullah, governor of the Red Sea Governorate, launched the third annual Egypt Entrepreneurship Summit (EES) on Thursday in Hurghada.

He started his speech with a brief introduction about the governorate stating that the Red Sea is considered Egypt’s eastern gate, linking Asia and Africa and that the Red Sea Governorate consists of a 1008-kilometer stretch of Egyptian coastline.

He stressed that Hurghada International Airport now receives 13.5 million visitors a year instead of the 5.5 million previously projected, thanks to a new terminal, which opened in 2014.

He added that the population of his governorate is 399,000 including 202,000 youths with an 8-percent unemployment rate.

Abdullah mentioned that the government has a vision for investment opportunities, and they are inviting investors to take advantage of the Red Sea Governorate’s numerous resources. He hopes this vision will provide more job opportunities for Egyptian youth, as the governorate receives roughly 100,000 workers from all over Egypt annually.

Abdullah said the governorate has a vision for future projects that they hope to implement in the near future.
More projects were suggested by the governor, including establishing a new university for science and technology, industrial projects, an international tourism center, zoo and an international conference center.

He said that they are willing to establish a new city centered around the gold industry, as the governorate is rich in the mineral.

Finally, he said that the governorate has 22,000 relics from Roman ruins, now housed in warehouses in Qena governorate. With this wealth of antiquities, they are prepared to establish another branch of the Egyptian Museum.

EES is held in Hurghada from November 15 to 18. The summit offers a meeting point for entrepreneurs, businesses, educators, and policymakers to discuss how to overcome new challenges facing business today.