Sinai and Canal cities development receives $17 billion boost from Egypt in 10 years

Posted on October 8, 2024   |  

Egypt’s Ministry of Planning, Economic Development, and International Cooperation invested $17 billion (EGP 530.5 billion) in Sinai and the Suez Canal cities (North Sinai, South Sinai, Suez, Ismailia, and Port Said) from FY2014/2015 to FY2024/2025.

The Sinai Peninsula plays a key role in Egypt's development due to its abundant human and natural resources.

In FY2023/2024, Egypt directed $1.88 billion (EGP 58.8 billion) toward projects in Sinai and the Suez Canal cities.

Since the investment map launch in 2018, the government identified 377 investment opportunities, including 180 industrial projects.

The government set up three service centers for investors for $6.8 million (EGP 212.7 million) to support 7,500 companies.

For FY2024/2025, Egypt plans projects in agriculture, irrigation, drinking water, transportation, education, and healthcare in Sinai.

The government continues to expand investment opportunities and strengthen infrastructure in Sinai and the Suez Canal cities.