Tourism Minister Hisham Zaazou said that the ministry will offer five tourism projects with a total cost of LE5.3 billion in the next economic summit in Sharm El-Sheikh, according to the newspaper Almal.
The five projects include the establishment of tourist resorts in Hurghada, Safaga and North Coast.
The minister added that the ministry is targeting South American, Chinese and Indian markets and will soon sign an agreement preventing double taxation with Brazil.
He revealed that the ministry is awaiting Central Bank of Egypt's governor to approve linking the Russian Ruble with the Egyptian Pound, stressing that the Russian tourism represents 30 percent of inbound tourism to Egypt.
Egypt's income from tourism, rose 27 percent to US$7.5 billion in 2014 from $5.9 billion the previous year, the tourism minister told a news conference on Sunday.
"The country received 9.9 million tourists in 2014, up from 9.5 million in 2013," he added.
