Egypt’s Industrial Growth Hits 3% In 10 Months- Hatem Saleh

Egyptian Minister of Industry Hatem Saleh asserted that the industrial growth rates remarkably climbed to 3% throughout the last ten months, a 1% increase than the general growth rate.

During the last period, the ministry of industry aimed to develop the system of the industrial registry procedures and to offer more industrial lands essential for investment as well as meeting the needs of investors. Also it is scheduled that new 1200 plots of land will be offered, besides 1692 plots of land that were offered last January, on an area of 5.4 million square meters

A protocol is being made up between the ministries of industry and petroleum and the Federation of Egyptian Industries (FEI) in order to specify the prices of supplying energy for the industrial sectors within the coming four years. In addition, there is coordination with the Egyptian banks to provide new and creative mechanisms so as to solve the problems of the financially stalled factories more and above resuming the plans of facilitating the infrastructure of the industrial areas and achieving industrial development in Sinai, Upper Egypt, Suez Canal Axis and the Technology Valley in Ismailia.