Offering Golden Triangle projects to investors will stimulate the Egyptian economy

Member of the General Importers Division of the General Federation of Chambers of Commerce, Khaled El-Dajwi, said that Prime Minister Dr. Mostafa Madbouly’s directive to offer Golden Triangle projects to the private sector and investors revives the national economy.

Al-Dajwi stressed that the sector has a great opportunity to enhance its proportion of the size of the Egyptian economy through these projects.

Introducing Golden Triangle projects in Egypt

Al-Dajwi added that the government is working to enhance the private sector’s share of the Egyptian economy, and this is in accordance with the state ownership policy document, noting that these projects contribute greatly to revitalizing the Egyptian industry and providing more job opportunities for young people.

Khaled El-Dagawi also confirmed that the Golden Triangle projects are capable of attracting more foreign direct investments to Egypt, which supports dollar flows to the country, which of course reduces the pressure on the hard currency.

Projects of the Golden Triangle Economic Zone

The Prime Minister directed the rapid development of projects in the Golden Triangle Economic Zone, and the start of implementing development projects in the region according to priorities, to put them forward for partnership with the private sector, according to a statement issued by the Council of Ministers.

Madbouly said that the Golden Triangle region is considered a promising region, and has many potentials, according to what has been proven by numerous studies conducted by the Ministry of Trade and Industry and others, in addition to the fact that there is many wealth that must be benefited from in the region.

Establishing logistics zones

He pointed out that if there are requests from the private sector to establish logistics areas next to the Safaga seaport or any other projects, a quick decision must be made regarding them and these lands must be made available to investors immediately, with the need to promote the projects in the plan.

The Golden Triangle region, with an area of about 2.2 million acres, is characterized by the elements of sustainable development in terms of its strategic location, represented by its view of the Red Sea, with a coastal strip of about 80 km in length, as well as the presence of the port of Safaga. It is also bordered by a network of paved roads to facilitate the transportation process. In addition to its proximity to three airports: Hurghada Airport, Aswan Airport, and Marsa Alam Airport, the region includes 7 industrial areas and 4 agricultural areas.

"Golden Triangle" project

  A new industrial economic castle in Upper Egypt, which includes establishing industrial, mining, tourism and commercial projects, to achieve development in southern Egypt.

The South... the richest

The region was chosen between Qena, Safaga, and Qusayr, which is one of the richest regions in terms of the percentage of mining resources and represents about 75% of the mining resources in Egypt.

The region is rich in metallic and non-metallic minerals, including iron, copper, gold, silver, granite, and phosphate, which are used in the manufacture of many industries of high economic value and the manufacture of building materials and cement.

The Golden Triangle is located on the outskirts of Qena Governorate in the Abu Tartur area, an area that contains the largest percentage of phosphate reserves in Egypt, estimated at about millions of tons of phosphate rocks. Egypt is ranked seventh in the world in terms of phosphate ore reserves.

This mineral wealth makes it possible to establish new factories to produce cement, glass, silicon, chemicals, and computer chips. Some other projects will use raw materials such as clay and limestone to make cement, as well as oil shale to produce gasoline.