IDA, Commercial Services Office Sign MOU

Eng Ismail Al Nagdi, chairman of Industrial Development Authority (IDA), and Anwar Al Sahragty, head of the commercial services office signed yesterday memorandum of understanding for cooperation. This is in the framework of coordinating between the governmental systems in order to attract foreign investments for the interest of the national economy.

The memorandum included the agreement on preparing external programs and rounds about the targeted external markets for the authority’s representatives. It discussed support aspects provided by the commercial bureaus, as well the available facilities via the bureaus’ relations with the official authorities. Moreover, it coordinated the investing opportunities which bureaus provide in the initial stages through the authority’s preparation for the studies, technical and financial data, as well as the allowance of the presented project.

Eng Ismail Al Nagdi said it would also coordinate the marketing of the comprehensive industrial investing plans; including some commercial services offices to attract investors specialized in a number of complementary industries for some main investments in Egypt by the system of industrial clusters. It also would market global bids which the authority presents; amounting to a possible number of investors with low cost.