Cairo – Mubasher: Egypt's minister of investment and international cooperation said on Friday that it delivered the first tranche of 30 industrial units in Mit Ghamr industrial zone.
The first tranche represented around 33% of industrial units, which totalled 107 projects in sizes ranging from 144 cubic metres to 576 cubic metres each, the ministry said in a statement.
The occupation rate for the remaining units is expected to exceed 80% by the first quarter of 2020, the ministry said.
All approvals and licences will be issued by GAFI, in accordance with investment law and its bylaws.
The offering to investors was undertaken by the investment ministry, General Authority for Investment and Free Zones (GAFI) in cooperation with Micro, Small and Medium Enterprises Development Agency (MSMEDA).
It came in the framework of Egypt’s President Abdel Fattah El Sisi’s initiative for supporting the national industry.
The ministry aims to attract investments in a variety of areas, most specifically metal industry and small and medium industries, in the new industrial zone, which will see 225 new projects, with 3,500 new job opportunities.
On a side note, the ministry said that the investment zone in Banha in Qalyubia governorate will host 178 units in agricultural, food and complementary industries, with 3,500 jobs to be created.