Egypt grants licences for 182 new projects in October: Minister Qabil

Egyptian industry ministry granted final approvals for 182 new industrial projects in October 2016 with investment cost estimated at 2.7 billion Egyptian pounds (around US$207 million).

Minister Tarek Qabil added Friday that the newly-approved projects are set to be established inside and outside the industrial zones, providing 5,300 direct job opportunities.

In October 2015, the ministry granted licences for 153 projects whose investment cost was estimated at 2.5 billion pounds.

Qabil clarified that the approvals include nine different industrial sectors: engineering industries (53 licences), food industries (47 licences), chemical industries (42 licences), textiles (26 licences), mining (4 licences), leather (3 licences), and pharmaceuticals (one approval).

According to the report Qabil received on industrial development indicators, the newly-granted approvals included 20 governorates notably Sharqia that was granted 40 approvals followed by Cairo (26 approvals), and Giza (17 approvals).

On other side, Qabil noted that ministry’s strategy to enhance industrial development until 2020 targets raising industrial growth to 8 percent so as to contribute by 21 percent in the GDP instead of 17.7 percent.