Egypt’s Ministry of Finance has announced a new initiative worth EGP 50 billion. The initiative aims to encourage the construction of more hotel rooms, catering to the growing number of visitors and enhancing Egypt’s position as a top tourist destination.
Finance Minister Ahmed Kouchouk revealed the details of the initiative during a recent press conference. He emphasized the government’s commitment to supporting the tourism industry and creating a more welcoming environment for tourists.
“We are working tirelessly to provide the necessary infrastructure and incentives to attract more visitors to Egypt,” Kouchouk said. “By increasing hotel capacity, we can offer tourists a wider range of accommodation options and enhance their overall experience.”
In addition to the tourism initiative, the Ministry of Finance is also focusing on other key economic priorities. These include enhancing economic stability, supporting the private sector, and reducing government debt. The government is committed to improving the tax system and creating a more favorable business environment.
Kouchouk also announced plans to explore new financial tools, such as sukuk and green bonds, to manage government debt and attract foreign investment. He stressed the importance of investing in infrastructure and supporting the manufacturing sector, including the production of electric vehicles.
With these initiatives in place, Egypt is poised to experience significant economic growth and development in the coming years. The tourism industry, in particular, is expected to play a crucial role in driving the country’s prosperity.
