Aswan’s Investors Demand Govt To Save EGP300 mln Investments

Mr. Sutohey Mustafa, Deputy Chairman of Investors Union for Upper Egypt’s Affairs, and Head of Aswan Investors’ Association, said about 27 factories are likely to close down within the few coming weeks in case of continuing the security instability; consequently these factories’ sales may decline amid the liquidity crises.

In exclusive statements to “Amwal Al Ghad”, Mustafa asserted that the cost of each factory ranges between EGP 10 and 15 million, while the total cost of these factories amount to EGP 300 million; mentioning that these factories operate in various productive sectors.

Mr. Sutohey Mustafa has called on the government to urgently interfere to solve the crisis, which made hundreds of families to ration their expenses; moreover, these factories are threatened with closing down very soon.

He suggested that the proposals of the government should provide capitals for these factories from the national banks, in addition to rescheduling their debts and preparing marketing studies that enable the factories’ products invade both local and international markets.