Egypt’s IDA to launch 13 industrial complexes until April 2020

Egyptian Industrial Development Authority (IDA) announced on Wednesday that it is planning to launch around 13 new industrial complexes for investors in 12 governorates until the end of April 2020.

Some of the new industrial complexes will be located in seven Upper Egyptian governorates; Aswan, Luxor, Qena, Minya, Sohag, Beni Suef, and Assiut, IDA’s head Magdy Ghazi said.

“We had earlier sold four complexes that were built last year in Sadat, Badr, and Port Said cities,” Ghazi said.

Moreover, standard costing has recently dropped between 30 percent and 50 percent which is considered one of the most important pillars to attract industrial investments within the coming period, he said.