Monday, May 01, 1995

About Investment and Economic Development - Labor Day,



Brothers and Sisters,

Over the past ten years, we channeled many of the development projects to a number of Egypt's governorates which suffered since a long time from the absences of the justice of geographical distribution of the development plans.

Our target was redistributing the fruits of development all over the republic within the framework of a new map, to extend urban activity outside the narrow valley line which suffer from a shortage of resources, population increase and limited cultivated area.

We have established a number of infrastructure projects in the south of Egypt and Sinai, as a preparation for an overall development plan in these two regions. For each of them, a big national project has been allotted worth tens of billions of pounds, so as to raise the standard of living of inhabitants and open new domains to serious regional development based on broadening the production base, and transferring the new urban activity outside the limits of the narrow valley, raising the efficiency of transportation and communication and facing the shortcomings in the education, health and culture services rendered in these areas.

These two ambitious projects will cost huge national investments to be used within the framework of a time program beginning 1995, represented in successive five-year plans that end in 2017.

If estimations confirm that the national project for the development of Sinai will cost at least LE75 billion, then the volume of investments necessary for the national project for the development of Upper Egypt is not less than that. But we pin great hopes on these two ambitious programs to change the face of life in Upper Egypt and in Sinai.

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