Investment Authority opens New Branch in 10th of Ramadan City

Alaa Omar –Vice-President of the General Authority for Investment and Free Zone- said that the Authority has taken a large number of steps towards the establishment of a new branch in the 10th of Ramadan city to facilitate extracting Licenses and approvals required for the investors in the industrial city, and he added that construction procedures will be finished before next September.

He said during his speech to the Conference which gathered Investors Societies and Federation of Banks in 10th of Ramadan city; that the establishment of a new branch of the authority in the city; is expected to facilitates the completion of  industrial services complex, inside the building of Investors Association, as this association building contains the branch of the Industrial Development Authority, that what made the city administrative authority to welcome the idea of creating its new office inside the Association’s building for the purpose of extracting permits for buildings of industrial plants. Omar declared that the investment rates in Egypt were not affected much in 2011 compared to the previous year, as the rates were stimulated with restoring Arab capitals to invest in Egypt, by the beginning of the second quarter of 2011, and he added that initial indications of the rates of investment in the first quarter of 2012 exceed its counterpart during the same quarter in 2010 and 2011.