Egypt: Ministryof Planning unveils EGP 11.6 billion investment plan for Asyut governorate 2023/2024

The Ministry of Planning and Economic Development announced the Citizen Investment Plan for Asyut Governorate for the current fiscal year 2023/2024. Dr. Hala El-Said, the Minister of Planning and Economic Development, emphasized that the development plan prioritizes special attention to Upper Egypt regions. This is achieved by applying a financial equation in directing investments based on developmental gap indicators. At the same time, there is a focus on creating a breakthrough in specific governorates that have not previously received adequate attention to maximize the benefits from their resources, wealth, and developmental potential.

She explained that the number of developmental projects in Asyut Governorate reaches 478 projects, with public investments directed towards the governorate in the 2023/2024 plan amounting to EGP 11.6 billion, an increase of 45% compared to the 2022/2023 plan.

Regarding the sectoral distribution of public investments targeted for Asyut Governorate in the 2023/2024 plan, the report of the Ministry of Planning and Economic Development indicated directing investments worth EGP 4 billion to the transport sector, representing 35%. This is followed by the petroleum sector with EGP 2.5 billion, representing 22%. Local development sector investments amount to EGP 1.8 billion, representing 16%, while the housing sector is allocated EGP 1 billion, representing 9%. Higher education sector receives EGP 971 million, representing 8%. Other sectors receive investments worth EGP 1.2 billion, representing 11%. Additionally, projects under the “Decent Life” Egyptian countryside development project are allocated separate investments.

The report further clarified that the number of villages targeted in the first phase of the “Decent Life” initiative in Asyut Governorate is 150 villages, benefiting 2.4 million people, with females representing 48%. The initiative’s projects, which achieve all sustainable development goals, include the construction of 4 residential buildings for first-time care families, 4 social units, 35 agricultural service complexes, 39 ambulance points, 118 health units, 4 central hospitals, 1,226 classrooms, 164 schools, 7 family development centers, a rehabilitation center, 42 drinking water stations, 149 sewage projects, 11 treatment plants, 146 mobile network towers for fiber optic network connection, 82 youth centers, 35 governmental service complexes, 94 post offices, and 33 police stations. Moreover, canal lining and lining projects covering 223 km, as well as paving of main and internal roads spanning 314 km, and the construction of 171 irrigation bridges, 146 electricity projects for natural gas network connection.

The report highlighted that the plan aims to implement 63 developmental projects in the housing services sector in Asyut Governorate. The most significant developmental targets in this sector involve directing approximately EGP 709.5 million towards drinking water and sewage services, in addition to implementing 275 projects in the local development sector, including completing the construction of a solid waste factory and paving internal roads in the governorate.

Distributed by APO Group on behalf of Ministry of Planning and Economic Development – Egypt.

The post Egypt: Ministryof Planning unveils EGP 11.6 billion investment plan for Asyut governorate 2023/2024 appeared first on Capital Newspaper.

Leave a Comment

Your email address will not be published. Required fields are marked *