Minister of Tourism and Antiquities discusses with "The hacker" Tourism investment opportunities in Egypt
Sherif Fathy: The current investment climate in the tourism sector in Egypt provides many attractive opportunities for investment
Sherif Fathy, Minister of Tourism and Antiquities, met with Sheikh Abdul Mohsen Alhokair, owner and chairman of the board of directors of Abdul Mohsen Alhokair Holding Group, to review and discuss tourism investment opportunities in Egypt, especially hotels.
During the meeting, Sherif Fathy stressed that the current investment climate in the tourism sector in Egypt provides many attractive opportunities for investment, especially in the hotel sector, reviewing the details of the initiative that was launched during the past period to encourage and attract more tourism investments and work to provide more facilities and incentives that would contribute to achieving the desired goals of this promising sector.
The minister also spoke about the development of the infrastructure in Egypt by the Egyptian state, which has witnessed a significant improvement in several areas, including The road and transportation network, airport development and operation of new airports, which positively reflects on the tourism sector and contributes to facilitating the movement of tourists, pointing out that this opens new horizons for developing the diverse tourism experience by linking cities and different tourist destinations in them, which contributes to implementing the ministry’s work strategy during the next stage, which will focus mainly on diversifying the targeted tourism patterns and working to develop each tourism pattern separately so that the Egyptian tourist destination is the first in the world in terms of diversity of tourism patterns and products.
During the meeting, a number of promising investment opportunities that Egypt has in hotel investment in a number of areas were highlighted, including the area surrounding the Giza Pyramids and the area between Sphinx International Airport and the Saqqara Pyramid area, especially in light of the urban development plan that this area is witnessing, especially with the opening of the Grand Egyptian Museum. Company officials gave a presentation on the group’s tourism and hotel projects in Egypt, especially in the field of recreational tourism. Some of the group’s visions and plans to increase the volume of its tourism investments in Egypt, especially in the field of hotel apartments and heritage hotels, were discussed. The mechanisms of cooperation between the ministry and the group to promote the recreational tourism product were also discussed, especially since the group owns one of the recreational projects in Egypt, and that coordination with tourism companies in this regard be made to include it in their various tourism programs. For his part, the Chairman of the Board of Directors of Abdul Mohsen Al Hokair Holding Group for Tourism and Development, confirmed that Egypt is a promising market for investors from all countries of the world due to the size of the Egyptian market and its growing needs for investment in many sectors, including the tourism sector, especially in light of the many investment opportunities it offers, pointing out the group’s desire to increase the volume of its projects in Egypt, especially tourism, including entertainment and hotels. During the meeting, Sheikh Abdul Mohsen Al Hokair praised the efforts of the political leadership in Egypt in developing the economy and pushing economic development in it, as well as the significant development witnessed by its infrastructure. The meeting was attended by Eng. Abdul Rahman Al Nemer, Director of the Saudi Agricultural Bank, Mr. Mahmoud Jaber, Executive Director of the Group in Egypt, and Ms. Marwa Amr, Head of the Marketing Sector at the Group. Also participating from the Ministry of Tourism and Antiquities were Mr. Mohamed Fahmy, Assistant Minister for Economic Affairs and General Supervisor of the Tourism and Antiquities Support Fund, and Mr. Mohamed Amer, Head of the Central Administration for Hotel Establishments, Shops and Tourism Activities at the Ministry.
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