Egypt develops 20 industrial zones at $178mln investments

The Egyptian government has almost completed the development of 20 industrial zones in Upper Egypt at a financial cost of about EGP 2.8bn, with regard to water, sewage, electricity, energy and communications networks, Minister of Trade and Industry Nevine Gamea stated.

The announcement came on the sidelines of President Abdel Fattah Al-Sisi’s inauguration of a number of development projects, including five industrial complexes.

Gamea said that these zones include Bayad Al-Arab zone in Beni Suef governorate with a completion rate of 99%, Al-Matahra zone in Minya governorate with a completion rate of 75%, and Al-Baghdadi zone in Luxor with an 80% completion rate.

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

Additionally, the government conducts infrastructure rehabilitation and development of four industrial zones in Qena and Sohag, within the framework of the local development program for Upper Egypt, which is being implemented in cooperation with the World Bank and the Ministry of Local Development.

Gamea further noted that the total amount spent so far to this end has been approximately EGP 3.2 billion.

She pointed out that the second axis of the action plan includes identifying the most important opportunities and projects available for industrial investment in Upper Egypt, which amount to 234 opportunities, most of which are medium projects whose investment cost ranges between EGP 1 million and EGP 25 million.

The minister noted that Micro Small and Medium Enterprises Development Agency (MSMEDA) contributes to the Upper Egypt development plan.

The MSMEDA has identified the economic components of the targeted centers under the Decent Life Initiative, where EGP 563 million were provided to finance the targeted projects within the framework of the initiative, which amounted to 21,000 projects, which provides about 38,000 opportunities.

It is worth noting that the MSMEDA has directed EGP 16 billion to finance about 827,000 medium, small and micro projects in Upper Egypt during the period from 2014-2021, which represents about 65% of the funding directed to the governorates of Upper Egypt since the establishment of the agency.

However, the third axis of the ministry’s action plan includes completing the offering system for industrial complexes in Upper Egypt, which includes 10 industrial complexes that provide 2,628 industrial units.