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Prime Minister Madbouly directs integrated development plan for North Sinai coast to attract investments
via Egypt Today1 min read
Prime Minister Mostafa Madbouly has instructed the Ministry of Housing to appoint a consulting firm to develop an integrated plan for the North Sinai coastal zone. This initiative aims to attract tourism, agricultural, and industrial investments. During a government meeting, Madbouly highlighted North Sinai's strategic importance and its significant, untapped investment potential, especially in tourism. Concurrently, the Prime Minister reviewed his government statement to Parliament, which addressed the ongoing regional crisis, its international and domestic impacts, and immediate mitigation efforts. He also detailed the government's response strategies and measures taken in response to the complex regional and global environment, noting that the economic effects of the crisis are expected to persist through the end of the current year, even if the crisis itself subsides.
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This summary was AI-generated from a story originally published by Egypt Today.
Egypt鈥檚 Minister of Foreign Affairs, International Cooperation, and Expatriates, Badr Abdelatty, traveled to Manila on Tuesday to attend the ASEAN Ministerial Meeting. During his visit, Abdelatty is scheduled to meet with senior Philippine government officials and hold bilateral discussions with several counterpart foreign ministers to enhance cooperation and coordination on regional and international issues. He will also meet with key Philippine business leaders and executives from major companies to bolster trade, economic, and investment relations between Egypt and the Philippines, and explore collaboration across various sectors.
Prime Minister Mostafa Madbouly witnessed the signing of a memorandum of understanding between the Alexandria Port Authority and the Montenegro Ports Authority during Montenegro鈥檚 President Jakov Milatovi膰鈥檚 official visit to Egypt. The agreement, signed by Alexandria Port Authority Chairman Vice Admiral Ehab Salah and Montenegro Ports Authority Chairman Stanko Dretic, aims to enhance bilateral cooperation in maritime transport and logistics. Key areas of collaboration include port management and operations, digital transformation, knowledge exchange, capacity building, and environmental sustainability. The MoU also outlines plans to explore new maritime connections between Egyptian and Montenegrin ports to strengthen supply chains and support trade and investment. Officials noted that the strategic locations of Egypt on the Mediterranean and Montenegro on the Adriatic could establish a significant maritime and logistics corridor linking European markets with the Middle East and North Africa. This partnership aligns with Egypt's ongoing efforts to modernize its port infrastructure and position itself as a regional hub for transport, logistics, and transit trade, while also supporting the Alexandria Port Authority's goal to expand international cooperation and improve the global competitiveness of Egyptian ports.
Must ReadPrime Minister Mostafa Madbouly chaired a meeting to outline an implementation plan for President Abdel Fattah El-Sisi鈥檚 directives to develop a national economic program for the period following the completion of Egypt鈥檚 reform program with the International Monetary Fund. The proposed program is expected to set the framework for a new phase of economic development, reflecting Egypt鈥檚 national priorities and long-term objectives. A joint working group comprising representatives from the government, the Central Bank of Egypt, and other relevant authorities is preparing the program to ensure coordination between fiscal, monetary, and broader economic policies. Once finalized, the program will be submitted to President El-Sisi before its official announcement. Cabinet spokesperson Mohamed El-Homsani said the meeting reviewed the program鈥檚 main priorities, targets, and policy framework, emphasizing the importance of close cooperation between the government and the Central Bank. Officials also examined the experiences of countries that previously completed IMF-backed reform programs to help Egypt develop a national framework based on global best practices while considering the structure of the Egyptian economy and the country鈥檚 development priorities. The program will build on the National Structural Reform Program, the National Narrative for Comprehensive Development, and Egypt Vision 2030. Madbouly directed officials to present the program in clear and accessible language for t