Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

PM Reviews Progress of Golden Triangle Special Economic Zone

Tue 07 Nov 2023 | 03:36 PM
Prime Minister Dr. Mostafa Madbouly
Prime Minister Dr. Mostafa Madbouly
Ahmed Emam

Egypt's Prime Minister Mostafa Madbouly held a meeting to review the progress of the ministries involved in developing the Golden Triangle Special Economic Zone.

Madbouly emphasized that the region has vast potential, backed up by studies conducted by the Ministry of Trade and Industry and other relevant authorities. 

He pointed out that the region has abundant resources that should be utilized, hence the establishment of an economic zone and the appointment of its president.

The premier instructed the team to expedite the development of the region. He had previously met with the head of the Golden Triangle Special Economic Zone to start implementing projects according to priorities. He also stressed the importance of having a road map for the development of the region, based on the diversity of activities between tourism, industrial and agricultural sectors.

In turn, the Minister of Trade and Industry, Ahmed Samir, suggested that work could begin in the tourist and agricultural areas as they would provide financing and quick results, followed by the industrial areas.

Meanwhile, the Minister of Public Business Sector, Mahmoud Esmat, agreed on the need for a general plan and a promotion plan to present to the private sector. He also stressed the importance of integrating the existing industries with the required industries in the region.

The Minister of Planning and Economic Development, Hala El-Said, highlighted that this zone is a significant opportunity for private sector participation. 

The state has a vision to enhance the role of the private sector in developing various projects. Vice Minister of Finance for Fiscal Policies, Ahmed Kouchouk, proposed that one of the areas in the Golden Triangle could be offered to the private sector within the framework of the state’s current trend to enhance the role of the private sector in economic fields.

The Chairperson of the General Authority of the Golden Triangle Economic Zone, Adel Saeed, said that the port of Safaga is very important. The presence of an industrial zone in the region would complement the development work being done for the port at this stage.

He disclosed that the Golden Triangle zone, which covers an area of about 2.2 million feddan, has the elements of sustainable development in terms of its strategic location overlooking the Red Sea, with a coastal strip of about 80 km in length, as well as the presence of the port of Safaga.