The Egyptian government is currently reviewing investment opportunities for building hotels in the country, an initiative presented at a meeting chaired by Egyptian Prime Minister Mostafa Madbouly. During the meeting, which took place on Sunday evening at the government headquarters in New Alamein, various investment opportunities were reviewed, including the possibility of building about 250,000 hotel rooms to accommodate 30 million tourists per year.
The meeting was attended by Minister of Tourism and Antiquities Sherif Fathy, Minister of Housing, Public Services and Urban Communities Sherif al-Sherbiny, Minister of Investment and Foreign Trade Hassan al-Khatib, Minister of Local Development Manal Awad, Deputy Minister of Tourism and Antiquities Yomna al-Bahar, and Chairman of the General Authority for Tourism Development Mostafa Mounir.
During this meeting, the Prime Minister reviewed some targeted areas for the creation of new tourist destinations in the Red Sea and the northern coast of the Mediterranean, similar to what has been established in Sharm el-Sheikh and Hurghada, as well as what is being developed for the Ras al-Hikma project.
Furthermore, the Head of Government stressed the importance given to the tourism sector by the State, as a key sector within the framework of the structural reform program, also including industry, agriculture, communications and information technology.
The Prime Minister also expressed the State’s willingness to achieve several goals, including attracting 30 million tourists per year and meeting the challenge of creating 200,000 to 250,000 new hotel rooms.
Mostafa Madbouly has ordered the Minister of Investment and Foreign Trade to work to promote the attraction of more investors working in the development and operation of hotel infrastructure, in order to accelerate the establishment of hotel rooms required to meet the growing demand of the tourism sector.