Egypt mulls creating industrial zones for SMEs

Egypt is studying establishing industrial zones in villages and governorates where lands will be offered under the usufruct system, in a bid to support the country’s micro, small, and medium-sized industries.

Such announcement was made during a Cabinet meetings headed by Egyptian Prime Minister Sherif Ismail on Monday, attended by Ministers of Planning, Petroleum, International Cooperation, Finance, Trade and Industry, Public Business Sector, and Antiquities.

The anticipated industrial zones will result in future increase in income and will contribute to create direct new job opportunities, boost support for SMEs sector, and help youth have more effective participation in the country’s development schemes.

They will witness multiple labour-intensive industrial projects covering ready-made garments, electronics, and some food industries, according to a statement released by the Egyptian Cabinet.