Cairo: Prime Minister Moustafa Madbouli emphasized the government's dedication to advancing the role of the General Authority for the Golden Triangle Economic Zone (GTEZ) as it works to develop the region's potential. The announcement came during a meeting at the government headquarters in New Alamein City, where Madbouli met with GTEZ Chairman Mohamed Abadi to discuss the authority's ongoing projects.
According to State Information Service Egypt, Abady provided an update on the recent initiatives undertaken by the authority, including significant structural updates. These updates feature the reformation of the board of directors for the Golden Triangle and its affiliate committees, the establishment of a commercial registry office, and the renovation of the authority's headquarters in Safaga. Additionally, several regulations, procedures, and commercial agreement templates have been finalized.
In terms of business development and promotion, Abady revealed that the authority has successfully negotiated with a major local and international industrial developer to establish an industrial zone focused on phosphate fertilizer production. The GTEZ is also collaborating with prominent regional and international developers to create specialized zones and attract investors in various sectors such as industrial, agricultural, and logistics.
Abady also highlighted the GTEZ's development plan for 2025-2026, which aims to achieve financial sustainability and meet objectives without imposing a financial burden on the state. The Golden Triangle is strategically located between the Nile River and the Red Sea, covering parts of the Red Sea and Qena governorates, and is defined by the cities of Qena, Safaga, and Quseir.
This project is a vital component of Egypt's Vision 2030, focusing on creating an integrated economic zone that leverages the area's rich mineral resources, including phosphates, iron, and copper. The initiative aims to attract investment, boost employment, and contribute to the country's sustainable development goals.