Minister of Tourism and Antiquities Khaled El-Anany said the tourism and antiquities fund draft law aims to stimulate tourism and promote it internationally, develop services and tourist areas, and support projects by the Supreme Council of Antiquities related to the restoration, preservation, and maintenance of monuments.
It also looks to develop archaeological sites, and the preservation of cultural heritage in accordance with the concept of sustainable tourism development.
The minister’s remarks came during a Sunday meeting with parliamentary committees of media, culture, antiquities, tourism, civil aviation, and plan and budget.
The members of the committees agreed in principle on the draft law regarding the tourism and antiquities fund, with some amendments to some clauses and formulations for the sources of funding.
The law stipulated that a fund to be called “Tourism and Antiquities Fund” should be established, with a legal personality. It is anticipated that the fund will have its headquarters in Cairo, and a minister responsible for tourism and antiquities affairs to take the reins.
Practicalities have shown there is no need for separate tourism and antiquities funds, El-Anany said.
He noted that he preferred, instead, to merge these separate funds into one, but that it is not like a creation of a new fund.
The new fund is the outcome of merging together three funds, including the Archaeology and Museum Projects Fund, the Nuba Archeology Project Fund, and the Tourism Fund.
During the parliamentary committee meeting, El-Anany stressed that there will be an equal allocation of the fund’s budget between the tourism and antiquities sectors. He noted that one sector will not be supported at the expense of the other, whilst assuring that antiquities and tourism are two sides of the same coin. He added that at least 50% of the new fund’s finance will be allocated for tourism promotion and revitalisation.