Monday 21/July/2025 – 12:16 PM
Michel Al -Jamal, Head of the Electrical Tools Division, demanded to work to implement a plan to attract economic investors and entities in the sectors of industry, agriculture and tourism for the Ras Al -Hikma region, where these basic elements that can contribute to the state pushing quick steps towards sustainable development and increasing the reserve of hard currency by increasing production and export and providing job opportunities for young people.
Attracting industrial, agricultural and tourist investments in the Ras Al -Hikma area
He stressed that the Ras Al -Hikma project deal, which takes place in partnership between Egypt and the UAE, is about 150 billion dollars during the project period, and represents a lifeline for the Egyptian economy, as it is the largest deal in the field of direct investment in the history of Egypt, and then it is a catalyst for local and foreign investments, and it is a success certificate for the government in light of the current global conditions.
This comes against the backdrop of the IMF announcement during the past days that it is expected that the Ras Al-Hikma project in the northwestern coast will attract foreign investments worth about 5 billion dollars during the current fiscal year 2025-2026, and the project will also attract additional foreign investments worth 5 billion dollars during the fiscal year 2027-2028, and the same value during the fiscal year 2028-2029.
Al -Jamal stressed in press statements to him today, that the Egyptian state succeeded, through collective promotion of investment in adopting the promotion of its competitive capabilities, which achieved a kind of economic stability in this difficult stage witnessed by the global economy.
Michel Al -Jamal expected the project to create a boom in the tourism and investment sectors, and also enhances sustainable development through the development of infrastructure and attention to smart and environmentally friendly facilities.
He expected the project to create thousands of job opportunities in the fields of construction, services and tourism, which will contribute to reducing unemployment rates and increasing the income of Egyptian families, in addition to increasing the reserves of hard currency.
Al -Jamal pointed out that the Ras Al -Hikma project represents a strategic step towards achieving Egypt’s 2030 vision, by enhancing infrastructure, attracting foreign investments and developing the tourism sector.
