Egypt directs LE 15.7B investments to Suez Governorate during 2020/21

CAIRO – 31 January 2021: Public investments directed to the Suez Governorate in the 20/2021 plan amounted to LE 15.7 billion, marking an increase of 15 percent over the plan in 2019/2020, representing 6 percent of the public investments distribute, according to Minister of Planning Hala el-Saeed.

El-Saeed added Sunday that the number of development projects on the citizen's investment plan in the Suez governorate reached 163 projects

The Ministry of Planning and Economic Development announced the features of the "Citizen Investment Plan" in the Suez Governorate for the fiscal year 20/2021, within the framework of continuing to announce the citizen's plan in all governorates of Egypt for the second year in a row.

The minister explained that the “Citizen Investment Plan” includes the most prominent features of the sustainable development plan for the fiscal year 20/2021, at the national level.

It also includes the most important economic indicators for each governorate represented in the gross domestic product, the real growth rate, the unemployment rate, and the number of employed.

Moreover, the “Citizen Investment Plan” includes the value of public investments directed to the governorate in the fiscal year 20/2021 plan, their distribution to different sectors, and the number of projects being implemented in each governorate.

El-Saeed added that the "Citizen Investment Plan" is based on evidence-based planning, by making use of databases and performance measurement indicators in all developmental areas in the 27 governorates of Egypt, in a way that ensures bridging development gaps between the different governorates.

She pointed out that the growth rate in investments financed by the public treasury and directed to the Suez Governorate reaches 14 percent.

About the sectorial distribution of public investments targeted in the Suez governorate in the 2021/2021 plan, El-Said pointed to directing investments worth LE 10.16 billion to the petroleum sector, at a rate of 64.7 percent, and the transport sector allocates investments worth LE 1.86 billion, or 11.8 percent.

The Suez Canal sector is allocated LE 1.08 billion or 6.9 percent. Also, LE 820 million were directed to the higher education and scientific research sector at a rate of 5.2 percent, in addition to LE 546.56 million to the housing sector at a rate of 3.5%, in addition to LE 1.25 billion directed to other sectors, by 7.9 percent.The report of the Ministry of Planning and Economic Development stated that the most important development goals in the petroleum and natural gas sector in Suez Governorate in the 2021/2021 plan are to deliver natural gas to 4,000 customers.

The report also pointed out that 2000 cars will be converted to run on natural gas.In the housing sector, the most important development goals are to direct about LE 284.8 million to drinking water and sanitation services, in addition to directing LE 101.3 million to the National Social Housing Program in Suez, as well as to LE 132 million to develop unsafe markets and random areas in the governorate.

The report referred to the Suez Canal Corridor development project, as the state aims to benefit from the tremendous potential of the Suez Canal by establishing a global logistics center in the Canal Corridor, to qualify the region to be a world center of excellence in maritime, logistical, industrial and tourism services.

 The listed appropriations for the project for the year 2021/2021 amount to LE 19.9 billion.