Egypt’s industrial sector witnessses new investments of 58bln pounds

The volume of the new investments executed in the Egyptian industrial sector has reached 58 billion Egyptian pounds ($3.261 billion) since the issuing of new industrial licensing law, said the General Authority for Industrial Development Ahmed Abdel RazeK.

He added that the new investments have succeeded in creating new job opportunities with number of workers that have reached 68.2 thousand and amount of wages of 1.4 billion.

On the other hand, there are 2,085 new industrial establishments inaugurated in 25 Egyptian governorates with total investments of 58 billion Egyptian Pounds during 2016-2017.

The number of new industrial establishments used to record 827 plants per year during the period between 2007 and 2015.

Abdel Razek added that the new industrial licensing law has boosted the industrial investment rates in Egypt, whereas 600 new plants have been built in Cairo and Giza as well as the other governorates such as Sharqia has got the lion share of the number of plants with 313 new ones.