Egypt: Madbouly reviews investment prospects in tourism, antiquities sectors
Arab Finance: Prime Minister Mostafa Madbouly held a meeting to review investment opportunities in Egypt's tourism and antiquities sectors, as per a statement.
The meeting was attended by Minister of Tourism and Antiquities Sherif Fathy, Minister of Investment and Foreign Trade Hassan El-Khatib, and senior officials from both ministries.
Madbouly emphasized the government's efforts to define targeted investment plans aimed at boosting foreign direct investment, identifying tourism as one of the priority sectors.
Meanwhile, Fathy stated that a dedicated unit is being formed to track and compile investment prospects in the sector, to build a centralized investment opportunities bank.
He also reviewed the sector's investment map and outlined the government's goal of attracting 30 million tourists annually by 2031, contingent on expanding hotel capacity.
According to the minister, Egypt added 7,200 hotel rooms in 2024, 55% of which are new capacity. In 2025, approximately 19,000 additional rooms are expected through a mix of new projects, expansions, and initiatives.
The discussion also covered investment needs for restaurants, tourist cafeterias, and antiquities preservation.
The minister noted that the Supreme Council of Antiquities has executed an average of 36 restoration projects annually over the past five years.
He presented a breakdown of targeted investments across governorates through 2031, including hotel developments, restaurants, safari ventures, camps, amusement parks, and private-sector partnerships for managing archaeological sites and museums.
El-Khatib noted that this was the third sectoral meeting of the day under the framework of the unified national investment strategy, which aims to attract more foreign direct investment across all sectors.
He stressed the strategic importance of tourism and antiquities in light of Egypt's ambitious plans to grow visitor numbers.
He added that all investment opportunities in the sector will be listed on the national investment map, along with the necessary data for potential investors.
The strategy's implementation involves sector diagnoses, legislative reform proposals, clear investment targets, and a ready-to-execute project pipeline.
El-Khatib also outlined the strategy's execution plan, which includes coordination meetings with relevant ministries, joint working groups, and regular progress reports to the Cabinet.
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