Egypt Ratifies 8000 New Industrial Projects in 16 Months – IDA

In 16 months, Egypt-based Industrial Development Authority (IDA) endorsed around 8000 new industrial projects in Egypt, said chairman Dr. Mahmoud El Garf on Wednesday.

The Egyptian official further referred that all the economic indicators in Egypt reflect that a substantial improvement could be traced. The IDA has issued 6000 industrial registrations all over the last 16 months, he noted. The authority has also managed to end the deadlock of nearly 3100 firms.

Moreover, El Garf also highlighted IDA’s recent package of new facilities targeting alluring more investments to the country. The new package is set to provide the industrial developers with around 5.4 million feddans within the upcoming period.

The official also said IDA recently signed multiple protocols nearly worth EGP 3 billion, aiming to utilize around 35 new industrial zones across the country.