Egypt Allocates EGP 9.7Bn To Suez Governorate For Development Projects In FY 2023/24

Egypt has allocated EGP 9.7bn in public investments to the Suez Governorate for the fiscal year 2023/24, according to Minister of Planning and Economic Development Hala El-Said. The investments will fund 189 development projects across various sectors, including petroleum, transportation, and health services.

The petroleum sector will receive the largest share of the investments, with EGP 4.2bn allocated for projects in this area. This represents 43% of the total investments for the governorate.

Other sectors receiving significant investments include the Suez Canal sector with EGP 1.6bn, the transportation sector with EGP 1.4bn, and higher education with EGP 778m.

The investment plan for the Suez Governorate is part of a broader initiative to announce citizen plans in all governorates for the fifth consecutive year.

This aims to raise awareness among citizens about the directions and priorities of the sustainable development plan for FY 2023/24 and its role in achieving“Egypt's Vision 2030.”

El-Said emphasized that the updated Egypt Vision 2030 places utmost importance on ensuring citizen participation in development decision-making. This approach benefits individuals, achieves spatial justice, reduces geographical disparities, empowers local communities economically and socially, and provides essential services in all geographical areas.

The investment plan for the Suez Governorate includes several key projects in the health services and higher education sectors. In the health services sector, 10 development projects will be implemented, including the completion of the development of Sadr Suez Hospital and the upgrading of primary care units.

In the higher education sector, 11 projects will be implemented, including the establishment of Galala University, the university hospital at Suez University, and a central laboratory complex for the Faculty of Science.

The report by the Ministry of Planning and Economic Development also highlighted the current status indicators for FY 2022/23 in the Suez Canal sector, with 25,911 ships passing through the canal, carrying 1,526.9 million tons of cargo, and generating EGP 245.8bn in revenue.

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