IDA seeks to establish 13 industrial complex in Q3 2019

Egypt’s Industrial Development Authority (IDA) seeks completing the establishment of 13 new licensed industrial complexes during the third quarter of 2019, Head of IDA Ahmed Abd el-razek said.

He told Amwal Al Ghad that the construction works are carried out by Armed Forces Engineering Authority with total cost of 5.4 billion Egyptian pounds.

The industrial complexes are established in  Aswan, Luxor , Qena, Sohag, Al Minya, Asyut, Beni Suef, Al Fayoum , Al Gharbia and Alexandria.

The volume of lands launched by IDA for investors reached 30 million metre square in number of governorates since June 2016.

Abd el-razek added that establishing these complexes came as part of the Ministry of industry strategy for enhancing industrial development and foreign trade until 2020, that aims to increase the industrial growth rate to 8 percent annually.

The strategy is based on developing industry, improving small, medium, as well as micro enterprises, increasing exports and controlling imports.