Business Today Egypt | October – November 2023, Special Edition

Sports
Youth Bodies Law has been amended to expand
partnership projects through the Build-Operate-
Transfer (B.O.T) system for youth centers.
According to the sports minister, the total private
sector investments for the development of
youth centers and sports facilities has
reached EGP 2.8 billion, while retaining
state-owned assets without
any privatization. Meanwhile, investments
in small and service projects
over the past 4 years amounted to EGP
2.4 billion, whereby 100 swimming
pools were constructed compared to
44 swimming pools built over 30 whole
years.
The ministry launched a project to
renovate youth centers in collaboration
with government banks with investments estimated
at EGP 3 billion under the usufruct
system. In sports clubs, the value reached EGP
3.2 billion.
Economic Considerations
“Official interest in sports is primarily attributed
to both short-term and long-term economic
considerations. This interest is fueled
by Egypt’s Vision 2030 strategy, which seeks
alternative resources to finance the Egyptian
treasury in lieu of declining traditional sources
of national income. This vision relies on sports
as a central and sustainable axis for funding
the Egyptian treasury,” researcher and writer
Nouran Sayed wrote in a report.
She said that the government policy seeks
to attract foreign investment to the Egyptian
sports market, encouraging other
categories of investment to take similar
steps. This policy sees opportunities provided
by Egypt’s large youthful demographic, which
implies a significant pool of potential talents.
Each talent becomes a project for investment,
surrounded by numerous job opportunities, investment
contracts, and local agents.
According to Sayed, these competitive advantages
aim to transform Egypt into a major sports
hub in Africa and the Middle East in terms of
technical expertise, sports investments, innovation,
and sports decision-making.
“Egypt aims to seize the lion’s share in reaching
these goals by enhancing sports cooperation
with African countries, where Egypt establishes
sports infrastructure in these countries or supplies
relevant industries and services,” she noted.
The intended internal political impact remains
to provide employment opportunities for wide
segments of Egyptians through local and foreign
sports investors, contributing to improving the
social and economic conditions of many people
linked to the sports machine individually and autonomously,
she continued.
24 November 2023 www.businesstodayegypt.com