IDA utilises 37 industrial zones in Egypt with $495mn: head Gaber

Egyptian Industrial Development Authority (IDA) provided 4.4 billion pounds (US$495.3 million) through its utilities fund to finish utilising 37 industrial zones during the last ten years.

IDA Chairperson Ismail Gaber stated Tuesday that the 37 zones are located in 20 governorates all over Egypt.

The official made these remarks during the meeting of the newly-formed committee for industrial zones headed by Industry Minister Tarek Qabil.

In June 2016, Egypt’s Premier Sherif Ismail issued a decree to form the committee encompassing representatives of industry, investment, finance, planning, defence, interior, environment, local development, electricity, and housing ministries.

Gaber added that total number of industrial zones in Egypt is around 129 including; 77 zones affiliated to governorates, 15 zones affiliated to industry ministry, 20 zones affiliated to New Urban Communities Authority (NUCA).

The official clarified that ten zones are affiliated to the General Authority For Investment and Free Zones (GAFI). Meanwhile, another four zones are affiliated to General Authority For Suez Canal Economic Zone (SCZone), in addition to two zones affiliated to Holding Company for Construction and Development (HCCD), and one zone affiliated to the IDA, Gaber pointed out.