Aswan, Egypt, is reviewing new investment opportunities, including the establishment of a factory for extracting aromatic and medicinal oils and an environmental healing resort. These projects were presented during the second phase of a specialized training program for local economic development and investment promotion. The program is a collaboration between Aswan Governorate and the United Nations Development Programme (UNDP), funded by the European Union.
The training program aims to enhance the capabilities of governorates in identifying, preparing, and promoting investment opportunities. It focuses on Egyptian governorates, particularly those in Upper Egypt. Participants include executive leaders and work teams from various governorates, such as Aswan, Fayoum, and Beni Suef. The program's goal is to support local economic development and encourage private sector participation in development initiatives.
The Aswan team presented their investment opportunity file to an evaluation committee, which included Aswan's Deputy Governor and specialists from the ministries of investment, local development, and planning. Proposed projects include the factory for extracting aromatic and medicinal oils and the environmental healing resort. These projects leverage Aswan's natural and environmental resources, aiming to attract new, high-quality investments.
The investment opportunities are evaluated based on adherence to established tools and methodologies for identifying and promoting projects. This process ensures that the projects are feasible and effectively utilize Aswan's available resources. The evaluation also considers the projects' alignment with the governorate's development goals and their potential to create jobs and stimulate local economic growth.
Aswan's Deputy Governor, Osama Ruzq Dawoud, emphasized the importance of training programs in enhancing the skills of local cadres and building their capacities. He noted that improving the skills of work teams in identifying, preparing, and promoting investment opportunities is crucial for supporting local economic development. The training also raises awareness about sustainable development goals and their translation into local plans and projects.
Aswan Governor, Eng. Amr Lashin, highlighted the governorate's focus on investment and attracting new projects, with an emphasis on optimal utilization of Aswan's resources in mining, quarrying, tourism, industry, and agriculture. He stressed that expanding the investment base in the governorate would support the local economy, create new job opportunities, and enhance sustainable development efforts.
Aswan's participation in the training program aligns with the Egyptian government's efforts to develop the investment system and promote economic development, consistent with the Aswan 2040 vision. The program's outcomes are expected to support Aswan's efforts to prepare a more advanced list of feasible investment opportunities, linking them to the governorate's economic and natural resources and local development needs.
Key points
- Aswan Governorate is promoting investment opportunities in oils and environmental healing projects to support local economic development and sustainable growth.
