The Ministry of Investment is considered a home for investors, and its main role is to coordinate with other ministries and government bodies to remove the obstacles investors face, said Sahar Nasr, Minister of Investment and International Cooperation, according to a press release issued on Sunday about her visit to Qena.
“The goal of field visits to several governorates is to listen to the problems of investors. We also aim to complete the implementation of the investment complex branch in Qena within 10 months. It will include all the services that facilitate the investors’ work,” Nasr said.
The minister said that the government is working to implement a package of procedures to inject more investments into infrastructure projects across the governorate, especially in Upper Egypt, in order to ensure geographical diversification to support economic growth. The projects include the projects of energy generation as well as road and transportation projects.
Nasr stressed that the government grants special attention to the investment climate in Egypt and promotes it globally to attract more investments that are serious about reducing unemployment and poverty rates, as well as inflation. This is in addition to increasing foreign exchange reserves in a way that contributes to reforming the state’s general budget.
The minister noted that she is working to improve investment infrastructure as well as the legislative amendments, including the investment law and the capital market law. The minister is also working to allocate industrial lands as well as microfinancing for investors. Moreover, the ministry is working to encourage investments in several sectors, such as energy, health, pharmaceuticals, and education, considering the growing demand for all of them.
Nasr added that the cooperation of her ministry with international institutions to enforce the one-stop shop system aims to connect all bodies and authorities who deal with investors electronically, and prepare a comprehensive database for all lands and investment opportunities, as well as unifying the required procedures and training workers to offer services to investors with the aim of providing high-quality service that facilitates the work of investors and the government, which will lead to attracting more investments.
The government is working to launch several projects in different economic fields. The projects will be conducted in several governorates, especially in Sinai and Upper Egypt, in the sectors of tourism and energy. Total investments in Qena are estimated at $842.8m.