(MENAFN – Daily News Egypt) Egypt’s Minister of Planning and Economic Development Hala El-Said has approved an additional budget of EGP 100m for the Ministry of Transport to start raising the efficiency of the Aswan-Al-Alaqi Road.
The road, which runs for a total length of 150 km, has already been granted EGP 560m in funds for its development.
El-Said made note of the economic importance of the transportation sector, with transport networks of all kinds considered economic lifelines. She also said that these networks link production centres with consumer markets, whilst also ensuring that production sites can obtain the required raw materials and operating requirements.
She pointed out that the transport sector’s output is important for production in many commodity and service sectors, such as the trade, extractive and manufacturing sectors.
The minister said that a country’s productivity highlights the importance of a sound and efficient transportation sector. Improving transportation networks has many positive effects on the performance of other economic sectors and their competitiveness.
El-Said referred to the Egyptian transportation sector’s development vision and its main pillars, as stated in the medium-term plan for sustainable development, which will extend from fiscal year (FY) 18/2019 to FY 21/2022.
‘Egypt’s Vision 2030 aims to provide a transport system that achieves the goals of sustainable development, and is intrinsically linked with the requirements of future national economic and social development,’ the minister said.
El-Said also said that transport sector indicators have become one of the main indicators showing the degree of a country’s economic and social progress.
In Egypt, this sector has special importance due to the country’s distinguished geographical location as a hub for transport routes. Egypt also has close geographical proximity to the main markets in Europe, Africa, and the Middle East.
El-Said said that the Aswan Governorate has acquired