Ministerial Committee to follow up Upper Egypt’s Investment Conference

The Cabinet aims to form a ministerial committee to follow up the latest preparations for an investment conference scheduled for the Upper Egypt region, Minister of Investment Ashraf Salman said Monday.

The committee is to be headed by Minister of Local Development, and to include Ministers of Investment and Trade in addition to a number of other ministers and officials, Salman said.

The conference will be held in Hurghada on September 11-12 this year, under the auspices of the Egyptian government.

Investment ministry seek to enhance means of cooperation between governorates and officials in Upper Egypt governorates to determine investment opportunities, the minister added.

Salman referred to the ministry’s studies to draw an investment map for each governorate and link it with the state general plan for development.

The event will be in the presence of Egyptian, Arab and foreign investors, who are interested in investing in the Upper Egypt region. Like the country’s Economic Development Conference held last March, the government will showcase a number of proposed projects located in Upper Egypt.

He affirmed the necessity of upgrading the economic and investment data for every governorate periodically to determine its contribution to Egypt’s GDP.

Moreover, the minister emphasised on the necessity of determining available investment opportunities in every governorate and linking them with state’s needs of major industries according to future development plan.