IDA Achieved EGP 36 bln Investments Last June

Industrial Development Authority’s investments recorded EGP 36 billion, divided on 12 industrial companies in H1 of 2012.

Abdel Wahed Seliman, Chairman of Renaissance Investors Association, told Amwal Al Ghad that these investments work in several industrial sectors, the engineering, food and petroleum sectors are the paramount important; emphasizing the production of these companies directs to the global market with 99%, this helped in not affecting by the passive incidents on the political and economic levels after revolution.

Seliman added that the average export of the industrial renaissance companies reaches EGP 9 billion annually.  The European and American markets receive most of these exports, plus some of the Asian, and Arab countries markets.

He pointed out that these companies don’t communicate with the government over providing and demands to facilitate the industrial zone, or getting any governmental services, except the licenses and the necessary approvals. This paved the way for stable relations with the Egyptian government, as these companies do the necessary facilities for productions by cooperating together.