The Industrial Development Authority (IDA) approved during March 2016 establishing 235 new industrial projects at 3.6 billion EGP investments.

These projects would secure 10,000 jobs, according to a report which Trade and Industry Minister Tarek Kabil received on Saturday.

The projects will cover nine various industrial sectors, including the nutrition, chemical, engineering, spinning and weaving, mining, pharmaceutical and leather domains, according to the report.

The projects will be set up in various governorates, including Sharqiya, Aswan, Giza, Cairo, Monofiya, Qaliobiya, Sohag, Assiyut, Menya, Qena and New Valley, the report said. 

Kabil said the ministry adopted reform measures over the past period, including facilitating license measures of industrial facilities.

He noted that several new industrial lands were put up to tender in the 10th of Ramadan city, Badr city, Fayyoum, Qweisna and Menya.

These measures managed to improve the investment climate and lure investments to the industrial sector, he said.

He noted that the ministry is keen on encouraging serious investors and offers all needed facilities to them.

He underlined that the ministry takes very strict measures against non-serious investors, expounding that the ministry gives them a time limit before withdrawing and cancelling their projects.

Source: MENA