Egyptian Infrastructure

Strong infrastructure helps drive economies forward, says Osama Saleh, chairman of GAFI.
[More Images]

RELATED ARTICLES: Infrastructure deals to boost UAE growth to 4% | LEED ranks may extend to government infrastructure | Sharjah reveals AED1bn mega projects

Osama Saleh, chairman of Egypt’s General Authority for Investment (GAFI), reviews his country’s investment in infrastructure

Why is infrastructure so important? This question is frequently asked ahead of any significant decision to invest. From GAFI’s point of view this question can be easily answered. Basic physical infrastructure such as roads, railways, ports and water treatment stations enable our economies to function and attract further new investments. With the need to build sustainable, knowledge-based economies, infrastructure has taken on a wider social context creating jobs and new potential for business growth. Consequently, infrastructure projects relate to the development of large centers for medical advancement, IT clusters and Technology Industry Centers, in addition to modern business centers for future global business leaders. These modern industries grow as a result of a strong infrastructure and help drive economies forward.

Story continues below

Advertisement

FEATURED COMMENT Please click here to comment on this article

In Egypt, we believe that infrastructure is a crucial component of a successful modern economy and therefore we have placed infrastructural improvements at the center of it. Infrastructure provides the arteries which sustain modern economies – helping them grow and encouraging outside investments.

Upgrades and improvements to transport links between the main centers of commerce in any country lay a sound platform for the blossoming of human talent, our greatest natural resource. Accordingly, in addition to new roads, railways and water stations, our focus is on building new special economic zones (SEZones), such as the North West Suez Canal SEZone and giving human capital the opportunity to flourish in and around the Upper Egypt-Red Sea Road.

Current infrastructure projects in Egypt cross many economic sectors and offer unique investment opportunities based on attractive public-private partnerships. This model, hugely successful in the past, enables private investors to become active participants in the country’s largest and most important projects. Our road-building initiatives exemplify the opportunities on offer, and aim to accommodate more vehicles and also make the whole country more connected, providing vital transport links between different regions. One major infrastructure project is the Upper Egypt-Red Sea Road, which will run 414 kilometres from Sohag to Safaga Port and will link central Egypt to the coast.

To date, some US $764 million has been invested in diversified investment projects along the route, which will cut travel time from Upper Egypt to the Red Sea to just three hours by car. Major investment opportunities exist all along the route and include centers for mining, cement and metal industries as well as for environmental tourism, the building of an industrial-agricultural complex and three dry ports.

To provide housing and accommodation for the growing population of Upper Egypt, a new urban communities project will result in the construction of 11 urban areas. These urban areas will provide sustainable housing, improve the standard of living and provide good healthcare and educational facilities. Put together, the Upper Egypt-Red Sea Road and the investment projects along its route will allow the region to retain key workers and create thousands of new jobs.