A total of seven investment projects, worth of EGP 4.1bn, are ready to be signed for implementation in the Governorate of Red Sea, Invest-Gate reports.

Red Sea Governor Ahmed Abdallah broke this news to the Minister of Investment and International Cooperation Sahar Nasr at a meeting held between both officials on February 27 at the ministry’s headquarters. The governorate also offered around 42 foreign investments mega projects at a total cost of EGP 50bn.

Nasr and Abdallah discussed the idea of having an investments summit held at Red Sea, where agreements and contracts would be signed in the attendance of several investors as well as ambassadors to encourage further investments in the governorate