Egypt targets $6.6mn Industrial Investments in FY2015-16

The Egyptian government targets attracting new investments worth EGP52 billion (US$6.6 billion)  in manufacturing industries sector in fiscal year 2015-16, getting 12.6% of the total targeted investments.

The economic development plan for FY2015-16 showed that non-petroleum manufacturing industries seized lion’s share of the targeted industrial investments by 97.03% with investments worth 50.8 billion Egyptian pounds.

The plan also stated that private sector captures 82.1% of the targeted industrial investments with 43 billion Egyptian pounds.

According to the plan, the rest of the investments are divided among public sector and its economic affiliates.

The plan aims at supporting the local manufacturing, increasing industrial activity in the local product and rationalizing energy use through enhancing investing in industries with technological base as well as adding more opportunities for the Egyptian firms to access to foreign markets.