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Nazif on new economic projects in Egypt Egypt, Economics, 5/23/2006
Egypt's Prime Minister Ahmed Nazif said that a large number of tourist, industrial and petrochemical projects will be carried out in the upcoming stage, adding that the Egyptian economy will enter the stage of genuine growth through these projects, referring to the new investments worth billions of dollars, which will achieve a big bounce in development.
He said that investment policy in the upcoming stage will be based on taking full care of big investors. In statements to the editors of the Egyptian newspapers on the margin of the World Economic Forum in Sharm El Sheikh he said that Egypt has a clear-cut timetable for achieving political reform and a specific project for amending the constitution in the summer of 2007.
The Prime Minister reviewed some projects which would be announced soon, adding that he would declare on June 11 a project for establishing a big harbor with Arab investments worth $40 billion in Sahl Hashish on the Red Sea.
He said that this project aims at turning Ras Al-Hikma and Northern Coast into a tourism attraction city as this zone lies south of Europe.[/b}
The Prime Minister said that this project, which would be established on an area of 100 million square meters would be carried out in agreement with a UAE company.
He said this project would be announced in presence of Sheikh Mohamed Bin Rashid, the UAE Vice President and the ruler of Dubai, indicating that the project would achieve good economic results.
The Prime Minister spoke also about a third massive project which would be established in [b]Nabq region in Sharm El Sheikh with a capital of one billion dollars.
He said that this project would be set up on an area of 7.5 million square meters.
He said there is a high demand on investment in petrochemical industries in Alexandria and Damietta harbor.
He reiterated that a zone similar to Hong Kong would be set up in Alexandria, adding that a qualified industrial zone would be set up in Kafr El Dawar and Borge El Arab.
He said that Al Khorafy Company would carry out a big project linking Marsa Alam region to Luxor through a railway line.
He said that a study is currently being carried out on producing cooking salt from Qaroun Lake, Fayyoum.
He said that this project would observe environmental dimensions and maintains the tourist nature of the zone and cut down salinity in the lake water.
The Prime Minister said the government would carry out a new investment policy which designates a high level official for taking care of every big investor.
Nazif noted that the WEF has proven a real success with more than 1,400 international figures attending.
He noted that the seminar took up a host of important issues in the economic, political and social domains, all centering on means of pushing up investments and accelerating growth rates and reform measures.
Such a resounding success of the forum comes despite the latest violent events in Dahab, said Nazif, hailing the success of the conference as a message of confidence driven home by the international community that Egypt was safe and stable.
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Top Egyptian tourism officials promote ‘New Egypt’ in Kuwait
[Wednesday, May 24, 2006 1:25:00 pm]
Kuwait continues to be a lynch-pin in Egyptian tourism, accounting for more than 43,000 tourist nights between January and April, a 30% year-on-year increase.
Middle Eastern travellers account for 20% of all visitors to Egypt with around 1.7 million inbound travellers – and many of them are Kuwaitis making the short flight over.
Kuwait is the GCC’s second largest tourism market for Egypt after Saudi Arabia.
“Egypt has so much to offer to our long-time friend and neighbour Kuwait. For years the warmth of the Egyptian people and Egypt’s rich culture has made Egypt a home-away-from-home for many Kuwaitis, and now the comfort, convenience, and services that our visitors require are available,” says H.E. Zoheir Garannah, Egypt’s minister of tourism.
Visiting Kuwait City, the Egyptian minister of tourism teamed-up with Egyptian Embassy officials to shine light on the many new facets of Egyptian tourism, holding meetings with tour operators, members of the media, and government officials.
Bolstering much of this growth is believed to be the many new initiatives Egypt has advanced recently. These new initiatives all specifically address the needs and requirements of Arab travellers.
Obstacles surrounding visas, property ownership and even public transportation have all been eliminated, fuelling increased interest in residential tourism offerings, new luxury resorts and recently introduced services.
To improve transportation, Egyptian investors have recently launched two metered taxi-cab companies providing a clean, comfortable and air-conditioned mode of transport utilising brand new vehicles.
Further encouraging this growth in Egyptian tourism is the new integrated-marketing campaign entitled ‘Nawart Masr’ (You Light Up Egypt!) which began last December and which is scheduled to return to the airwaves late this month.
The new integrated marketing campaign, expected to contribute to more than 30% growth among Middle Eastern holidaymakers visiting Egypt each year, puts Arab visitors at the centre of its appeal
It draws on Egypt’s natural beauty, culture, entertainment, and food to remind Gulf, Levant, and North African Arabs why they fell in love with Egypt the first time they visited, while highlighting all that is new and exciting. “The Nawart Masr campaign takes hold of the close and emotional relationship we share with our neighbouring Arab countries,” says Ahmed El Khadem, chairman of the Egyptian Tourist Authority.
“Egypt has always been a favourite holiday destination for Middle Easterners, and so it’s important to reach out to our friends in the region and highlight the many positive developments Egypt now has to offer,” El Khadem further comments.
Egypt serves as a popular and easily accessible holiday destination for Kuwaitis, who revel in the common language and cultural similarities.
Complementing the cosmopolitan cultures of Cairo and Alexandria, are plenty of family-oriented entertainment, restaurants, splendid beaches and resorts.
Egyptian tourism continues to prosper from real estate development and properties can now be bought by foreign nationals at attractive prices.
The Egyptian delegation will wrap-up the week’s activities in Kuwait City before continuing on to visit Qatar and Bahrain later in the month.
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