Tourism and Antiquities reviews facilities for attracting tourism investment

Ghada Shalaby, Deputy Minister of Tourism and Antiquities for Tourism Affairs, participated in the conference “Building Bridges of Joint Cooperation and Commercial Exchange for Arab-African Investment and International Cooperation,” which was organized by the Union of Arab Women Investors in the presence of a number of ambassadors of Arab and foreign countries in Cairo, and which is held within the framework of the “Arab-African Investment and International Cooperation” conference. “Youth is the focus of development... opportunities and challenges,” which will be held at the end of this October in Sharm El-Sheikh.

Building bridges of international cooperation

During the conference, the Deputy Minister delivered a speech in which she referred to the challenges and crises that the world is going through that greatly affect the economies of countries, especially developing countries, noting that these challenges can be overcome by building bridges of international cooperation in general and Arab and African cooperation in particular, especially in In light of the rich and diverse natural and human resources that the Arab and African countries possess, therefore, integration between these countries will allow the optimal benefit from these resources.

Facilities to attract tourism investment

The Deputy Minister explained the Egyptian government's keenness to provide many facilities to attract investment in various fields, most notably tourism.

She pointed out that the Egyptian destination is a unique model for tourism investment because it possesses the tourism components that guarantee the success of its investments to the investor in the field of tourism.

She added that, believing in the importance of tourism to the Egyptian national economy and its role as an important source of foreign exchange, creating new job opportunities, and achieving economic and societal development, the entire Egyptian government supports the tourism sector and works to support the tourism industry at various levels.

Stability in Egypt and the infrastructure that the government is keen to continue developing are among the most important factors for attracting tourism investment, in addition to the fact that the national strategy for tourism development in Egypt depends on improving the tourism investment climate to achieve its ambitious goal of reaching 30 million tourists by 2028.

Legislation regulating tourism investment

She stressed that the Ministry of Tourism and Antiquities, in cooperation with all concerned authorities, spares no effort in providing all the factors that contribute to improving the tourism investment climate, including working to make the legislation regulating tourism investment more flexible and keeping pace with changes.

  And facilitating procedures for licensing tourism projects, noting that the Ministry recently issued licenses for a number of hotel establishments in different tourist governorates to increase their capacity in line with the expected increase in tourist traffic arriving in Egypt.

She also referred to her meeting last week with officials from a group of international hotel chains during her participation in the activities of the “Future of Hospitality” summit held in the Emirate of Abu Dhabi in the United Arab Emirates, who praised the development witnessed by tourism in Egypt, expressing their aspiration to deal with Egyptian tourism developers and expand the brands. Their business in Egypt.

Legislation regulating tourism investment

She stressed that the Ministry of Tourism and Antiquities, in cooperation with all concerned authorities, spares no effort in providing all the factors that contribute to improving the tourism investment climate, including working to make the legislation regulating tourism investment more flexible and keeping pace with changes.

 Facilitating procedures for licensing tourism projects, noting that the Ministry recently issued licenses for a number of hotel establishments in different tourist governorates to increase their capacity in line with the expected increase in tourist traffic arriving in Egypt.