Egypt: Trade, Industry Minister Accompanies Sisi in Visit to Beni SuefSource: www.export-egypt.com 1/21/2018, Location: Africa |
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 There are around 2,973 factories in Upper Egypt, with an investment value of EGP 75bln and production capacity worth EGP 119bln.
President Abdel Fattah al-Sisi, accompanied by Minister of Trade and Industry Tarek Kabil, inaugurated a series of investment projects in Beni Suef, including new expansions to Samsung's factory, which produces devices using Egyptian-made components, and a cement and granite complex. “Achieving a real industrial development in Upper Egypt is a top priority. Hence, the ministry is establishing more integrated industrial parks in the region based on the competitive advantages of each governorate,” Kabil said in a presentation made during the visit. In this respect, the minister pointed out that 13 industrial complexes, 10 of which in Upper Egypt, are under construction and will be completed by the end of 2018, with an investment cost of EGP 5.4bln that would create 43,000 direct jobs. Out of 135 industrial parks across Egypt, 50 are situated in the south; that is around 2,973 factories. With an investment value of EGP 75bln and production capacity worth EGP 119bln, they offer 127,000 jobs, he added. Over the past two years, 2mln square meters were offered in Upper Egypt for 567 micro and small projects that would attract investments amounting to EGP 6.8bln. Moreover, many other projects are underway in the area, including a new specialized city for producing home appliances, a forest on waste water and an MDF wood factory in Minya over an area of 300,000 square meters, Kabil announced. |
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