Egypt: Internal Trade Eyes USD 40bn Investments within 5 Years

Egypt’s Internal Trade Development Authority (ITDA) is aiming to allure investments in the amount of US $ 40 billion within the upcoming five years; 2014 – 2019.

Dr. Khaled Hanafy –Chairman of the Internal Trade Development Authority – stated that ITDA is targeting the provision of around one million job creation through the establishment of 27 commercial and logistic zones all over nation-wide 12 governorates.

Governorates of Nile Delta and Upper Egypt will capture lion’s shares of ITDA’s upcoming investment plans, said the top official in a press conference held on Thursday, noting that ITDA is seeking to ensure a nation-wide investment balance.

In the presence of Egyptian Minister of Supply Dr. Mohamed Abu Shady, ITDA has organized a press conference to reveal state strategic and comprehensive plans to upgrade the country’s internal trade.

ITDA’s strategic vision comprises of 5 key elements; resuming the establishment works on the state enterprises and logistic zones as well as developing the infrastructure and legislative structure of the country’s internal trade, training employees in retail trade sector, and providing commercial registry as well as trademarks services.