Tourism development authority to inject new investments

Tourism Minister Hisham Zaazou said on Thursday that the Tourism Development Authority (TDA) would introduce new investment opportunities in El-Ain El-Sukhna and Red Sea coastal regions.
Addressing reporters, the minister said the TDA posted advertisements about new projects in a bid to retrieve the rates of tourists visiting Egypt per year.
The TDA received new investment applications over the past few days, head of the authority's executive office Serageddin Saad said.
Only 44 applications met the requirements, Saad said, adding, four applicants were announced winners to carry out new development projects in the two cities.
The four projects' offers would inject EGP 2.5 billion in the new projects, he concluded.