Egypt signs tourism land pact to spur investment projects

Egypt signed a cooperation agreement to develop state-owned land in key tourism areas, as the government seeks to accelerate investment projects and unlock greater economic value from public assets.
The agreement, signed on Wednesday between the Tourism Development Authority (TDA) and the Future of Egypt Authority for Sustainable Development, will support the planning and implementation of integrated tourism developments under the country’s Vision 2030 strategy. Prime Minister Moustafa Madbouly witnessed the signing ceremony in New Alamein City.
Under the agreement, the TDA will prepare master plans and feasibility studies for projects on land owned by the Future of Egypt Authority, help secure the required approvals, and provide technical oversight during implementation. The two entities will also establish a joint committee to coordinate execution and address implementation challenges.
Housing Minister Randa El-Menshawy said the partnership forms part of the government’s broader strategy to improve coordination among state institutions, increase the value of public assets and attract investment into the tourism sector.
Bahaa El-Ghannam, executive director of the Future of Egypt Authority for Sustainable Development, said the partnership would combine the authority’s implementation capacity with the Tourism Development Authority’s technical expertise to accelerate tourism and investment projects.
The government has identified tourism as a key driver of foreign-currency earnings and economic growth, with authorities seeking to expand private-sector participation and develop new tourism destinations as part of a broader investment strategy.

Attribution: Amwal Al Ghad English