Minister of Supply Khaled Hanafy said President Abdel Fattah al-Sisi suggested during his meetings with American businessmen establishing a tourist city for shopping on the Gulf of Suez to employ 500 thousand workers. It is planned to be near the port of Sokhna or Adabiya and to include markets to export Egyptian goods, he added.
Hanafy also said in remarks on the sidelines of Sisi's visit to New York that the goal of the project is to create job opportunities and that working conditions will include training workers for a while before starting work in the city, explaining that the city would have eight grand towers as offices for companies.
The initial costs of the project will amount to LE40 billion, Hanafy said, pointing out that Sisi was trying to agree with American private sector companies in a bid to attract American investments.
The second project aims to transform Egypt into a logistic center for grain trade to become a global center for the trade of grains and cereal in the Middle East.
Edited translation from MENA
