Assem El-Gazzar, Minister of Housing, chairs a board meeting of the Tourism Development Authority (TDA) in presence of a group of ministers and board members, Invest-Gate reports.

El-Gazzar adds that the TDA’s board approves its budget for the fiscal year 2023/2024, which includes pumping new investments to continue infrastructure projects in various development sectors to a completion rate of around 30%.

The minister notes that the budget includes supporting tourism development with 11% higher investment compared to the year-ago period.

The TDA’s new budget expects a net profit of EGP 1 bn, El-Gazzar says.

The minister reiterates that the Egyptian state is always keen on providing investors with facilities to attract more investment opportunities.