ICEC

Egypt’s Industry grants expansion licences worth $202mn in July 2016

Egyptian industry ministry gave licences to around 42 investors to expand their industrial projects with investments estimated at 1.8 billion Egyptian pounds (US$ 202.7 million) in July.

Minister Tarek Qabil stated Friday that those expansion approvals included five sectors; metallurgical industries that got lion’s share with 94 immediate, initial and unconditioned approvals followed by chemical industries sector with 33 approvals then food industries (11 approvals), and textiles (3 approvals).

On other side, Head of Egyptian Industrial Development Authority (IDA) Ismail Gaber added that the authority provides investors with all facilities to upgrade industrial sector through conducting advanced technical studies,  granting licences, and allocating land plots.

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