Minister of Environment Yasmeen Fouad and Minister of Planning and Economic Development Wednesday made an inspection tour of the Petrified Forest Reserve to discuss cooperation in investment.
Fouad said that the aim of the visit is to lay down the necessary procedural steps to assist in the master plan for investment in the Petrified Forest Reserve.
This plan will be part of measures taken by the Ministry of Environment in cooperation with the concerned authorities to create a climate for private sector participation in natural reserves investment, the minister added.
One aspect of investment in the Petrified Forest would be an open museum telling the history of fossils, she said, adding that the Petrified Forest is a rare geological feature that has no parallel in the world for its diversity in fossilised wood, affording geologists a superb opportunity to study and record prehistoric life on this planet.
“The ministry has taken several measures to attract private sector investment in natural reserves without harming them,” Fouad said.
“Every effort has been made to rediscover natural and cultural heritage in the reserves while enhancing the importance of their preservation.
“Moreover, investment will provide an opportunity to fully explore the components of natural reserves by looking at various forms of wild and marine life as well as plants, while enjoying the practice of ecotourism,” she explained.
For her part, Hala el-Saeed spoke of great opportunities to attract investment in the environment sector as one of the green investments that the Ministry of Planning and Economic Development seeks to increase during the next three years, which is in line with Egypt’s vision 2030.
There is an opportunity for cooperation in developing an investment plan for the Petrified Forest through the Egyptian Sovereign Fund and setting a vision for private sector investments to yield returns and conserve the environment.
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