20 January 2020 08:40 PM

Cabinet follows up launch of gov't portal for investment zones

Thursday، 18 July 2019 - 02:37 PM

The cabinet, under Prime Minister Mostafa Madbouli, presided over a meeting to follow up arrangements for the pilot launch of the government portal for industrial investment zones in Egypt. 

The meeting was attended by Local Development Minister Mahmoud Shaaraway, Deputy Housing Minister Randa el Menshawi, and other officials. 

In statements on Thursday July 18, 2019, Cabinet Spokesman Nader Saad said that the launch of the portal for industrial investment zones falls within the State's general policy aiming at providing a safe and attractive investment environment and in line with President Abdel Fattah El Sisi's directives to create a conducive investment climate in the country. 

He further underlined that the Industrial Investment Map aims at helping investors to take decisions supported by a clear vision on the available competitive potentials and investment areas in the country. 

On Monday, the Industrial Development Authority (IDA) Chairman Magdi Ghazi said the pilot launch of the online industrial investment map will be within two months.

He said local and foreign investors will have access to the investment map with all needed data about land prices and needed documents which can be sent online. 

He said over 1,000 industrial plots will be available for investment as a preliminary step.

In a statement on Monday, he said the authority put out to tender 31 square million industrial lands with their utilities in three years within the framework of the 2020 strategy of the Ministry of Trade and Industry and the IDA.

The strategy is meant to secure 60 million square meter industrial lands with utilities for investments.

The ministry will also set up 13 new industrial complexes for small and medium sized industries, he said, noting that two industrial complexes will be put out to tender soon for small investors. 

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