10 Ramadan Investors Seek Amending Conditions With IDA

Muharm Helal, chairman 10 Ramadan Investors Association, urged the ministry of industry to solve the problems of makers in 10 Ramadan city, the problem of connecting natural gas to the new factories, and finding suitable funding mechanism to rise the industry growth rates during the coming period.

In an official memorandum to the new minister of industry, Hatem Salah, Helal demanded amending the conditions of hiking the water prices, as this represent burden on the factories with the Industrial Development Authority (IDA), after it rejected to present new lands in the industrial zone.

Helal told Amwal Al Ghad that he called on the government to consider the investments during the coming the period, and preparing a good climate for the industry and trade in Egypt to attract more direct foreign investments that will help increasing development rates.

He expected improvement in the investments during the coming period, after the relative stability in the state’s institutions and forming the new cabinet.