IDA Offers 30 mln Feddans in Fayoum to Attract EGP 16 bln Investments

Mahmoud El Garf, Chairman of the Industrial Development Authority (IDA), has revealed that the Industry and Trade Ministry is planning to offer 30 million feddan in Fayoum within the coming period in order to attract investments worth EGP 16 billion and to establish more than 300 large Factories, in addition residential logistical and stores regions.

El Garf has pointed out that the governorate has allocated an area in favor of IDA and it currently being end the approvals for connecting water and electricity .

El Garf has emphasized to Amwal Al Ghad that the Ministry is about to finalize new law for regulating the industrial lands to be presented on the Cabinet , headed by Dr. Hazem Al-Bablawi, the Prime Minister by the end of this month.

ElGarf added that the new law will contribute in resolving the financial crises and to provide facilities in the industrial region including Egypt within the last period.