5113 Investment projects in Egypt
Egypt, Economics, 9/4/1997

The number of investment projects in Egypt until next June is 5113 whose capital exceeded 90 LE billion. The industrial projects topped the list, numbering 3408 with a capital of 38.8 LE billions. Tourisim projects came in at second place with 515 projects whose capital is LE 27 billion.

Finance projects number 517 with a capital of LE 13.7 billion, while service projects number 178 with LE 8.3 billion in capital. 225 agricultural projects bring a capital of LE 3.5 billion. Construction projects were fewest, with 178 projects whose capital is 2.1 LE billion.

Dr. Ibrahim Fawzi, the director of the Investment Authority and Free Zones, said that the tourist investment projects are a strong competitor to the industrial ones. Agricultural investment projects were expected to be higher as the government offered many facilities to the investors in order to reclaim lands in Toushka.

Dr. Fawzy acclaimed the increase in the tourist sector. Many tourist villages were established in the Red Sea, Sharm El Sheik, Hurgada, the North Coast and many other areas. He expected that the tourist investment would reach the saturation point soon unlike the industrial and agricultural projects.

Previous Stories:
  International Bank allocates $300 million loan to Egypt   (8/30/1997)
  Privatization of 314 companies expected to yield 52 billion   (8/26/1997)
  53 new enterprises dealing in tourism, trade approved   (8/13/1997)

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