2017 is a ‘turning point’ for Egypt’s trade and industry: Minister

Rates of local and foreign investments in the Egyptian trade and industry sectors are expected to witness a leap during 2017, Trade and Industry Minister Tarek Qabil stated Friday.

“2017 will be a ‘turning point’ for both industry and trade sectors,” the minister stated, adding that production and exporting rates are expected to hike next year, thus, more job opportunities would be available.

In 2017, the ministry targets completing the efforts it exerted during 2016 regarding enhancing the industrial development through issuing more industrial lands to meet needs of the industrial investment, Qabil pointed out. “The ministry plans to issue 10 million square metres in Sadat and 10th of Ramadan cities as well as Borg El Arab region in Alexandria.”, the minister said.

The ministry targets finishing construction works at the first three licenced industrial complexes in Port Said governorate and Sadat and Badr cities in 2017 , Qabil noted, clarifying that these complexes would be allocated for small-sized projects. The new complexes would be delivered in September and October 2017.

About ministry’s plans for 2017, Qabil said that a number of industrial complexes are scheduled to be launched next year including Al-Robeky zone for leather tanneries, Damietta Furniture City, and Mergham Plastics City.