World Bank to develop six industrial zones in Egypt’s Qena, Sohag

Egyptian Ministry of Industry is currently following procedures necessary for developing  six industrial zones: two zones in Qena governorate and four zones in Sohag governorate.

Minister Tarek Qabil stated Saturday that this step comes among World Bank’s Upper Egypt Local Development Programme.

The World Bank (WB) has allocated US$500 million for the programme that targets improving the business environment for private sector development and strengthen local government capacity for quality infrastructure and service delivery in select governorates in Upper Egypt.

Qabil added that the ministry agreed with WB’s officials to determine performance rates and executive steps in order to finish upgrading the sex zones within two years.

The ministry plans upgrading these industrial zones through developing basic services provided in each zone and identifying investment priorities according to the competitiveness of each governorate, thus, encouraging investors and owners of Small- and Medium-sized Enterprises (SMEs) to establish more industrial projects.

Minister Qabil added that industry ministry coordinates with ministries of international cooperation and local development to execute WB’s development programme that cope with the visions and plans of Egypt’s government to develop Upper Egypt within the coming period.

Qabil clarified that one of the industrial zones in Qena governorate is built on an area of 354 feddans, including 250.9 feddans for industrial production.

The ministry is currently utilising the first industrial zone with total cost estimated at more than 75 million pounds.

Meanwhile, the second industrial zone in Qena is established on space of 500 feddans, 325 feddans of which are allocated for industrial production. Around 65 percent of the zone has been utilised with cost worth more than 75 million pounds, the minister noted.