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Government negotiates with Egyptian, Arab companies to invest in Matrouh: Nasr - Daily News Egypt

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Government negotiates with Egyptian, Arab companies to invest in Matrouh: Nasr

Investors with experience in investing in these projects are preferred

The Minister of Investment and International Cooperation, Sahar Nasr, said that the government is currently negotiating with Egyptian and Gulf investors to participate in the establishment of a tourist city in Gargoub area in West El-Negaila, Matoruh.

Nasr held a meeting with a group of investors including Mansour Amer, chairperson of Porto group, and Mohamed El-Dahan, chairperson of Emaar Misr, and the governor of Matrouh, Alaa Abou Zeid, as well as some residents of the region. The minister said that she will meet with a number of ministers and investors in the next week to agree on providing the necessary facilities and services for the project.

The minister pointed out that she seeks to establish a global tourist city to attract foreign tourists throughout the whole year and not only in the summer months.

She noted that the ministry will choose the investors who have experience in such projects, and a workshop will be held for brainstorming.

The project will include a 38-floor hotel, spas, commercial port, schools and 15 towers.
Businessman Mansour Amer expressed his willingness to establish a new “Porto” in West El-Negaila, provided that the governorate offers the suitable conditions to launch the project.

Amer stressed that he will focus on the touristic part of the project since it is the main field of his companies.

West El-Negaila is the closest area to Libya, that is expected to achieve stability in the coming period, he added.

Amer called on the government to sell the land of the project at attractive prices since the main objectives of the project are creating job opportunities and increasing state revenues.

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