Egypt’s IDA grants licences for new 235 projects in March 2016

Egyptian Industrial Development Authority (IDA) granted approvals for establishing 235 new projects inside and outside industrial zones with investments estimated at 3.6 billion Egyptian pounds (US$405,282 thousand) in March 2016.

Trade and Industry Minister Tarek Qabil stated Saturday that the new projects are set to provide around 10,000 new job opportunities

In March 2015, IDA has granted licences for 225 projects -whose investments worth 2.2 billion pounds- that provided 7,000 job opportunities, marking 4 percent growth, the minister clarified.

The granted approvals included nine different industrial sectors; food industries got (82 approvals), engineering industries (60 approvals), chemical industries (48 approvals), textile (24 approvals), power (9 approvals), mining and mineral sectors (5 approvals for each), pharmaceutical and leather sectors ( one approval for each).

Qabil noted that the approvals are distributed over 22 governorates; Al Sharqia (48 projects), Giza (32 projects), Aswan (27 projects), Cairo (25 projects), Monufia (20 projects), Qalyubia (15 projects), Sohag (11 projects), Asyut (7 projects), Minya (7projects), in addition to New Valley and Qena (one project for Each).