Eng. Randa Al-Minshawy, Minister of Housing, Utilities, and Urban Communities, emphasized that the Alam El-Roum project reflects the serious trend pursued by the Egyptian state toward enhancing partnerships with the private sector, as well as Arab and foreign investments.
She underscored that the project represents a significant opportunity to translate this vision into tangible reality through establishing an integrated development project. This contributes to maximizing the utilization of the natural, tourism, and investment potentials enjoyed by the North West Coast, while supporting state efforts to diversify the economic base and expand urban development beyond the Nile Valley and Delta.
This came during the Minister of Housing's participation in the launching event of the investment zone for the Alam El-Roum project, organized by Qatari Diar. The event was attended by Dr. Mohamed Farid, Minister of Investment and Foreign Trade; Dr. Walid Abbas, Deputy Minister of Housing for Urban Communities; Dr. Yasser Sobhi, Deputy Minister of Finance for Fiscal Policies; Counselor Sherif El-Shazly, Chairman of the Prime Minister's Advisory Board; Dr. Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI); and Eng. Taleb Al-Athba, Vice President of Qatari Diar – Egypt.
The North West Coast: A Key Pillar for Urban and Investment Expansion
In her speech, the Minister of Housing addressed the Egyptian state's philosophy in developing the North West Coast as one of the primary axes for urban and investment expansion. She highlighted leveraging its distinguished natural and geographical advantages, along with the promising opportunities its location offers to develop tourism, real estate, and service activities, and to establish modern urban communities capable of attracting investments and creating job opportunities.
She noted that this direction was not merely based on urban expansion per se, but rested on a broader vision aimed at redistributing development and investments, creating new economic hubs, and enhancing integration among tourism, real estate, and service activities. This approach yields added value for the national economy and supports the state's comprehensive development targets.
The Minister explained that the Alam El-Roum project stands as one of the ventures that will drive development efforts along the North West Coast by investing in the region's promising potential and developing it according to an integrated urban and investment vision. This vision balances maximizing economic returns with preserving natural and environmental assets, providing an attractive environment for domestic and foreign investment.
Working to Create the Suitable Environment to Achieve Project Development and Investment Targets
In this context, Al-Minshawy stressed that the Egyptian state is keen to support the project, complete its execution phases, and work on creating the appropriate environment to achieve its development and investment targets. This is pursued in coordination and cooperation among various concerned entities and Qatari Diar, ensuring the integration of the planning vision with execution requirements and maximizing the benefits from the opportunities presented by the project.
She pointed out that launching the project's investment zone marks an important step toward developing its investment components, enhancing its capacity to attract capital, and paving the way for establishing diverse activities that stimulate economic activity, increase investor participation, and generate direct and indirect job opportunities, alongside supporting activities related to tourism, services, and real estate development.
The Success of Major Projects is Measured by Their Ability to Generate Genuine Development Impact
She affirmed that the success of mega projects is not measured solely by the volume of investments they attract, but rather by their ability to generate a genuine development impact, the employment opportunities they provide, the productive and service activities they add to the national economy, and the extent of their contribution to building integrated urban communities characterized by sustainability and continuity.
In conclusion, Al-Minshawy reaffirmed that the Ministry of Housing, Utilities, and Urban Communities will continue working in coordination with relevant entities to support urban and investment development pathways and reinforce partnerships with the private sector. This will accelerate the implementation of mega projects and fulfill their objectives. She expressed her wishes that this event marks a successful start toward completing the implementation phases of the Alam El-Roum project and fulfilling its investment and development targets, reflecting the depth of Egyptian-Qatari relations and opening broader horizons for economic and investment cooperation between both countries.
