Egypt plans to invest EGP 9.7b in Suez governorate

Egypt’s Ministry of Planning and Economic Development allocates a total of 9.7 billion Egyptian pounds for 189 development projects in Suez governorate in FY 2023/24, according to an official statement.

The petroleum sector receives the largest share with 4.2 billion pounds, followed by the Suez Canal sector at 1.6 billion pounds and the transport sector at 1.4 billion pounds.

The plan allocates 778 million pounds to higher education, representing an eight per cent increase. The health sector receives 261.5 million pounds, marking a three per cent rise. While, the remaining sectors will see a 15 per cent growth with a total investment of 1.5 billion pounds.

The statement outlines a plan to implement 10 health service development projects in Suez Governorate, including completing the Suez Chest Hospital and enhancing primary care units.

Additionally, 11 projects in higher education are planned, such as establishing Galala University, the Suez University hospital, and a laboratories complex at the College of Science.

The report includes updated data for the Suez Canal sector in FY 2022/23. The data shows that 25,911 ships with a total tonnage of 1,526.9 million tons transited the canal, while the total revenues of the Canal hit 245.8 billion pounds in the same fiscal year.

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