Industry trade

Egypt nears completion of development of 20 industrial zones at EGP 2.8 billion

Egyptian Trade and Industry Minister Nevine Gamea said the government had nearly completed the development of 20 industrial zones in Upper Egypt at a financial cost of around EGP 2.8 billion, in which concerns water, sanitation, electricity, energy and communication networks. It is part of the government’s action plan for the industrial development of Upper Egypt.

Gamea’s remarks came during President Abdel Fattah Al-Sisi’s inauguration of a number of development projects, including five industrial complexes.

She pointed out that these areas include the Bayad Al-Arab area in the Beni Suef governorate with a completion rate of 99%, the Al-Matahra area in the Minya governorate with a completion rate of 75% and the Al-Baghdadi area in Luxor with a completion rate of 80%. completion rate.

The other areas are: Arab Al-Awamer with a completion rate of 75% and Bani Ghalib with a completion rate of 93% in Assiut; the Al-Kalahin area in Qena with a completion rate of 83%, the Kom Oshim area in Fayoum with a completion rate of 82%; the Al-Kawthar zone with a completion rate of 65% and West Gerga with a completion rate of 49% for its first phase in Sohag; the Dakhla zone in the New Valley with an achievement rate of 98%; and the Wadi Allaqi area in Aswan with a completion rate of 74%.

In addition, the government is leading the infrastructure rehabilitation and development of four industrial zones in Qena and Sohag, as part of the Local Development Program for Upper Egypt, which is implemented in cooperation with the World Bank and the Ministry of Local Development.

The Minister revealed that the total amount spent so far for this purpose has been around EGP 3.2 billion.

Gamea noted that the second axis of the action plan includes the identification of the most important opportunities and projects available for industrial investment in Upper Egypt, which amount to 234 opportunities, most of which are projects of medium size whose investment cost varies between EGP 1 million and EGP 25 million.

She further underlined that the Micro, Small and Medium Enterprises Development Agency (MSMEDA) contributes to the development plan of Upper Egypt. MSMEDA identified the economic components of the centers targeted under the Decent Living Initiative, where EGP 563 million was provided to finance the projects targeted under the initiative, which amounted to 21 000 projects, which represents around 38,000 opportunities. Job.

The MSMEDA has allocated EGP 16 billion to finance approximately 827,000 medium, small and microeconomic projects in Upper Egypt during the period 2014-2021, which represents approximately 65% ​​of the funding intended for the governorates of Upper Egypt. -Egypt since the creation of the agency.

The Minister of Commerce and Industry added that the third pillar of the ministry’s action plan includes the completion of the industrial complex supply system in Upper Egypt, which includes 10 industrial complexes that supply 2,628 industrial units. .