Egypts infrastructure investments hike EGP 340% in 7 years: Minister

Egypt’s infrastructure investments skyrocketed by 340%, or EGP 2.3 billion, since the fiscal year (FY) 2015/2016, according to Minister of Planning Hala El-Said.

The country has raised its investments in roads and bridges by more than 90% over the past three years, recording $1.79 billion by the end of 2020 when compared to $890,000 in 2018.

El-Said added that the sector is expected to grow during 2020-2024, as this growth will be primarily driven by active partnerships between the public and private sectors and the expansion of green buildings to increase energy efficiency and advanced infrastructure.

She further noted that the National Roads Project that was launched in 2015 aims to construct up to 7,000 kilometers of new road over six years with total investments of $11 billion, in addition to implementing complementary works to promote the existing road network by providing maintenance for 5,000 kilometers of current roads.

“Egypt has made remarkable progress during the past few years in modernizing transportation, communications and digital infrastructure, which was reflected in Egypt’s ranking in global indicators, following up that despite the pandemic,” El-Said said.

“The Egyptian government has completed a number of major projects, in addition to the projects being implemented, which contributed to alleviating the negative effects of the Corona epidemic on the Egyptian economy, which created a large number of opportunities, as the projects included 1,000 companies and nearly two million Egyptian workers,” El-Said added.

She explained that the country has established 17 industrial companies over the past six years in 15 governorates nationwide, offering 43,000 new direct jobs.

As regards the Decent Life initiative, the minister stressed that the Egyptian government aims to achieve a regional balance in infrastructure development, at a total cost of more than EGP 700 billion in three years.

The initiative, which targets 4,854 villages in 20 governorates, aims to develop Egyptian villages through the development of infrastructure projects in various fields, with a focus on education, health, and sanitation.

Additionally, the Egyptian government has taken several major decisions to support the industries most affected by the closures caused by the pandemic, the decline in aggregate demand, and the disruptions in supply chains as energy costs have been reduced for the entire manufacturing sector.