Industrial Registry Records EGP8.5 bln New Investments In 2012

The ministry of industry and foreign trade has recorded EGP 8.5 billion new industrial investments in the Industrial Registry in H1 of 2012, distributed on 616 facilities in different productive sectors, chemical, textile, food, engineering and petroleum ones.

These investments provide as to 25.000 direct job opportunities, moreover, thousands of indirect job opportunities. It is expected that production value in these factories reaches EGP 9.2 billion every year.

Eng. Hatem Saleh, Minister of Industry and Foreign Trade, in his statements to Amwal Al Ghad, said the relative increase that the new industrial investments at the start of 2012 positive shows the ability of Egyptian economy to recover in the coming period, and grant the foreign invest more trust in order to invest in the Egyptian market.

Saleh affirmed that the ministry of industry sets incentive strategy to encourage the industrial growth rates in the coming; expecting the continuity of relative increase of investments during the rest period of 2012.

The minister referred that exporting and signing several commercial agreements represent incentive for the industrial investment in Egypt.  The global market opens the doors for numerous Egyptian products and expands the consuming disbursement, in order to boost the local production.

The ministry sets a short-term scheme to assimilate the decrease rates that the Egyptian export witnessed in the first eight months of 2012.