Egypt’s IDA seeks to attract investments of EGP 40bln in 2019

Egypt’s Industrial Development Authority seeks to attract 30-40 million Egyptian pounds into the industry sector during 2019 to contribute with  creating 350,000 direct job opportunities.

A source told Amwal Al Ghad that  the  IDA seeks to launch industrial lands of 15 million metre square during 2019 of which 3 million metre square using industrial developer system.

Borg Al Arab and Sadat cities will capture 4 million square metres and 6 million metre squares respectively of the IDA’s new launch using industrial developer system, the sources said.

IDA has offered 30 million square metres in the country’s various areas for investment since July 2016.

Egyptian Ministry of Industry and Trade is seeking to launch 30 million square metres till the end of 2020. This comes as part of the ministry’s scheme to launch new 60 million square metres for investors