Egypt’s Internal Trade Development to attract $2bn investments in Q2

By Sanaa Allam On Apr 11, 2019

Ibrahim Ashmawy, Chairman of Egyptian Internal Trade Development Authority (ITDA)

Egyptian Internal Trade Development Authority (ITDA) said on Thursday it plans to attract investments ranging between 25 billion and 35 billion Egyptian pounds ($1.4-$2 billion) within the second quarter of 2019.

Egyptian Supply Ministry’s affiliate ITDA will attract these investments through offering 10 investment opportunities to local and foreign investors in different governorates, including Ismailia, Suez, South Sinai, Red Sea, Sharqia, Faiyum, and Assiut within the April-June period, chairman Ibrahim Ashmawy said.

This comes as part of ITDA’s plan to develop the internal trade sector and increase its contribution to the country’s GDP by around 21 percent, Ashmawy told Amwal Al Ghad.