Planning Ministry Unveils $71 Billion Government Investments for Upper Egypt Development in 2024

The Ministry of Planning and Economic Development reviewed in a report issued by it the targeted government investments for the development of Upper Egypt in the current fiscal year 23 / 2024.

Dr. Hala El Said, Minister of Planning and Economic Development, emphasized that the development plan seeks to pay special attention to the regions of Upper Egypt, by applying a financing equation in directing investments based on developmental gap indicators, while simultaneously focusing on making a breakthrough in specific governorates that previously did not receive adequate attention to maximize the utilization of their resources, wealth, and developmental potentials. She pointed out that the plan directs government investments amounting to about 71.4 billion Egyptian pounds during the year 23/2024 for the development of Upper Egypt.

El Said added that the plan directs the largest proportion (50.3%) of government investments directed to Upper Egypt to the South of Upper Egypt, with a value of 35.9 billion pounds, followed by the Middle of Upper Egypt by 34.9% with a value of 24.9 billion pounds, while the government investments for the North of Upper Egypt constitute the remaining proportion (14.8%) with a value of approximately 10.6 billion pounds.

The report of the Ministry of Planning and Economic Development indicated the investments directed to the South of Upper Egypt in the plan for the year 23/2024, where Aswan Governorate captures the largest share of government investments directed to the South of Upper Egypt (34.2%), followed by Luxor Governorate by (21.4%), then Sohag Governorate (18.3%), and the Red Sea and Qena Governorates by (14.7%) and (11.4%) respectively, explaining the dominance of the transport and storage sector by the largest proportion (21.3%), followed by the agriculture and land reclamation sector and other services by 20.5% each, then the educational and health services sectors by about 9.7% and 8.4% respectively.

Regarding government investments directed to the North of Upper Egypt, the report explained that Minya Governorate ranks first in government investments directed to the North of Upper Egypt (43.4%) with a value of 4.6 billion pounds, followed by Beni Suef Governorate by 34.9%, then Fayoum Governorate in third place by 21.7%. These investments are distributed according to sectors where the other services sector captures the largest proportion of these investments by about 35%, followed by the education sector by 18.6%, and the health services sector by about 17%.

The report reviewed investments directed to the Middle of Upper Egypt, where New Valley Governorate captures the largest share of government investments directed to the Middle of Upper Egypt (53.4%) with a value of 13.3 billion pounds, followed by Assiut Governorate by 46.6%. These investments are distributed according to economic sectors, with the transport and storage sector capturing the largest proportion by about 61%, followed by other services sector by 17.6%.