Industry Offers 5 mln Meters To Attract EGP20 bln Investments
Eng. Hatem Saleh, Minister of Industry and Foreign Trade, unveiled the ministry’s plan to resume work with industrial developer system, which was halted since the Egyptian revolution in 2011. It aims at establishing 18 industrial zones have complete utilities and logistic services by the end of 2013; targeting EGP 20 billion investments.
On the sidelines of Musaid fair in Istanbul, Hatem Saleh asserted to Amwal Al Ghad that his plan includes starting to develop the industrial zones in on Gulf of Suez Canal and Sinai, west Port Said, Suez, Ismailai, Damietta, and El-Alamein in addition to some industrial zones in Upper Egypt.
As per constructing logistic zones, Saleh said he aims at finishing the construction of areas in the existing industrial communities, in Ramadan 10th City, October 6th City, Sadar, Borg Al Arab, El Fayoum, Port Said, and Ismailai to attract investments that expected to reach EGP 20 billion.
He added that establishing these zones comes in the framework of cooperation between the government and the public sector, in addition to the local and global private sector, to utilize these industrial zones so as to meet the increasing investors’ needs on industrial investment.
The industrial developer system, which the ministry implemented in the last period, has proved its relative success; but it has some defects that led to raising the industrial lands’ prices in an exaggerated way. So the ministry will stipulate that the industrial developer companies should determine maximum price per meter and decrease the spaces to suit with the needs of small and medium entrepreneurs’ owners.
The minister said the lands that the ministry has and not attached are 5 million meters, and included in the targeted 18 zones.
It is expected that the companies, which will use the first experience of industrial developer after the revolution, will Egyptian, Turkish, Saudi, Qatari and Jordanian.
