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Assiut receives EGP 7.1bn of public investments in FY 2020/21: Planning Ministry - Daily News Egypt

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Assiut receives EGP 7.1bn of public investments in FY 2020/21: Planning Ministry

Egypt’s Minister of Planning and Economic Development Hala El-Said has revealed that Assiut governorate will receive EGP 7.1bn under the citizen’s investment plan for fiscal year (FY) 2020/21. El-Said’s remarks came as part of the Ministry’s announcement of the features of the “Citizen Investment Plan” in Assiut for FY 2020/21. It is part of the …


Egypt’s Minister of Planning and Economic Development Hala El-Said has revealed that Assiut governorate will receive EGP 7.1bn under the citizen’s investment plan for fiscal year (FY) 2020/21.

El-Said’s remarks came as part of the Ministry’s announcement of the features of the “Citizen Investment Plan” in Assiut for FY 2020/21. It is part of the continued nationwide roll-out of the citizen’s plan for the second year in a row, and intends to encourage community participation and involve citizens in planning and follow-up.

El-Said said that the governorate has seen a total of 392 development projects, with the FY 2020/21 plan reflecting a 16% increase over the FY 2019/20 plan. The sum of public investments allocated to Assiut represents 2.8% of the finance distributed under the citizen’s investment plan.

The minister indicated that the distribution of public investments in Assiut under the FY 2020/21 plan includes: investments worth EGP 2.5bn directed to the housing sector, or 34.5% of the financing; EGP 741m directed to the oil sector, or 10.4% of the financing; EGP 841.2m to the local development sector investments, or 11.8% of financing; EGP 1.3bn to the transport sector, or 17.7% of the financing; EGP 644m to the higher education sector, or 9% of financing; while other sectors have been allocated investments worth EGP 1.2bn, or 16.7% of financing.

A Ministry of Planning and Economic Development report noted the most important development goals in the governorate’s housing sector and the development of informal settlements for FY 2020/21. This means about EGP 2bn will be directed to drinking water and sanitation services, with an additional EGP 156.4m allocated to electricity services.

The report pointed to the most important projects in the governorate’s petroleum and mineral wealth sector, which will see the completion of the replacement and renewal of the Assiut Company’s oil refining units.

This will also see the completion of industrial security and environmental protection at the Assiut Petroleum Refining Company, the replacement and renewal of the national network of raw materials, products, and LPG. Alongside this, projects covering industrial security and environmental protection at the Petroleum Pipelines Company will be completed.

El-Said affirmed that the sustainable development plan for FY 2020/21 attaches great importance to the development of those governorates that make up Upper Egypt.

The plan intends to bring about real, tangible, and rapid development, which is reflected in improving the quality of life and providing decent living opportunities for citizens. It also ensures that follow up is conducted on the spatial dimension as one of the main determinants of achieving comprehensive and sustainable development.

This will take place in a way that ensures balanced nationwide growth is achieved, and points to the development plan’s interest in potential policies and programmes for creating nationwide equality in living standards. It will do so by addressing development gaps and advancing development efforts in line with the components, characteristics, and priorities of each region.

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