Political Tensions, Liquidity May Close Down 50 Factories In El Beheira

El Beheira Investor Association has revealed that the investment in the governorate is deteriorating as the current political tensions reflected on the domestic industrial production and may close down 50 factories in Aedco and Kafr El Dawar.

For his part, Fathy Morsi, Chairman of El Beheira Investor Association, told “Amwal Al Ghad”, this the current political tensions led to declining the contracts of the foreign investors, whereas these factories depend on exporting and declining the domestic demand indicators to create a crisis in the liquidity available in these factories and negatively reflected on the production wheel.

Morsi Added that these factories are working in different productive sectors, such as textile sector, mineral industries and food industries. The average investing cost per factory is EGP 5 million approximately.

He emphasized that the government has to cooperate to provide the financial measures necessary for continuing work inside these factories, through governmental mediation between banking institutions to fund these factories.