Egypt directs LE104B public investments to Upper Egypt governorates in 3 year

CAIRO – 4 March 2021:Volume of government investments directed to the governorates of Upper Egypt during 18 / 2019-20 / 2021 amounted to LE 104 billion, with an increase of about 27 percent, compared to the three prior years, according to Ministry of Planning.

This came in a report issued by the Ministry of Planning and Economic Development reviewing the citizen's investment plan for the current year 2020/2021 in Upper Egypt governorates.

The report indicated that the number of development projects in Assiut governorate reached 392 projects and that the value of public investments directed to the governorate in the 2021/2021 plan recorded LE  7.1 billion, marking an increase of 16 percent compared to the 2019/2020 plan.

It indicated that the number of development projects in the Luxor Governorate is 174 projects, revealing that the value of public investments directed to the governorate in the 20/2021 plan increased 45.2 percent in an annual basis, to reach LE 2.66 billion.

As for Fayoum governorate, the report noted that the number of development projects in the governorate recorded 191 projects and that the value of public investments directed to the governorate in the 20/2021 plan hiked 38 percent to LE 2.9 billion.

In the Minya governorate, the number of development projects reached 327 projects, and the value of public investments directed to Minya governorate in the 2021/2021 plan is LE 4.1 billion, an increase of 10.8 percent over the 2019/2020 plan.

The report of the Ministry of Planning and Economic Development indicated that the number of development projects in Beni Suef governorate reached 290, and the value of public investments directed to the governorate in the 20/2021 plan is LE  3.9 billion, an increase of 139 percent over the 2019/2020 plan. 

In Qena, the number of development projects registered 323, and the value of public investments directed to Qena governorate in the 20/2021 plan hit LE 6.6 billion, an increase of 59 percent over the 2019/2020 plan.

Regarding Aswan Governorate, the number of development projects in the governorate logged 273 projects. The value of public investments directed to the governorate in the 20/2021 plan amounted to LE 6.9 billion, marking an increase of 73 percent compared to the 2019/2020 plan.

The public investments directed to Sohag governorate in the 2021/2021 plan amount to LE 5.8 billion, hitting a 48.7 percent increase over the 19/2020 plan.

The report stated that the sustainable development plan for the fiscal year 20/2021 attached great importance to the development of Upper Egypt governorates, intending to bring about real, tangible, and rapid development that would improve the quality of life and provide decent living opportunities.

It 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.

The report pointed out that potential development efforts focus on three things, namely giving advanced priority to the development of Upper Egypt governorates within the framework of a coherent and integrated development program, in addition to focusing on the rural areas most in need to narrow development gaps and reduce migration flows to urban areas.

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.