Tarek Qabil:19% Increase in Industrial InvestmentSource: www.export-egypt.com 7/26/2016, Location: Africa |
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 Industrial indicators are pointing towards a 19% increase in approvals in comparison to the first six months of 2015, Industry and Trade Minister Tareq Qabeel said during his visit to 6th of October City industrial zones.
So far this year, a total of 1,304 approvals have been granted for establishing industrial projects with investments of EGP 21.3bn, offering 54,000 employment opportunities during the first of half of 2016, Qabeel said. This marked a 19% increase from the first six months of 2015 in investments, when 1,099 approvals were granted worth EGP 20.3bn, he added. Also, industrial records have been renewed and modified for 3,179 investors. The minister’s visit was concerned with opening three new factories in 6th of October City in the engineering, medical, and aluminum industries worth EGP 300m and a complex for small- and medium-sized enterprises (SME) worth EGP 91m, according to a press release by the ministry. The press release added that Qabeel also visited the Construction Products Company (CPC) industrial development zone to open a complex for small businesses comprised of seven factories that work in engineering, chemicals, printing, plastics, packaging and wrapping, and electrical products. This complex received EGP 91m worth of investments and offers1,400 employment opportunities. These projects include opening a factory for aluminum extraction in the CPC zone with investments of up to EGP 160m, while providing 80 employment opportunities. Another factory will be opened to produce moulds for household appliances with investments up to EGP 130m offering 220 direct employment opportunities. |
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