Madbouly Egypt's development model at UN conference    Egypt's Foreign Minister urges diplomacy on Iran nuclear issue in IAEA call    Egypt, Iran FMs discuss Gaza truce, nuclear talks revival    Egypt's Environment Minister calls for stronger action on desertification, climate resilience in Africa    Egypt's Q3 GDP growth hits three-year high of 4.77%    Peace is not imposed by bombing… nor achieved by normalisation peoples reject: Al-Sisi    Al-Sisi reaffirms Egypt's support for Libyan unity, withdrawal of foreign forces    Spinneys Opens A New Store in Hurghada    Egypt to launch new dialysis filter factory in July, covering 65% of domestic demand    Egypt reveals heritage e-training portal    Egypt leverages diplomacy to advance global health partnerships    Egypt to toughen truck safety rules following fatal Ring Road accident    Egypt condemns Pakistan convoy attack, voices solidarity    Egypt, Mauritania eye joint healthcare plans    Egypt's FM, UK security adviser discuss de-escalation    US Fed holds rates steady    EGX ends in green on June 16    Egypt's EHA, Schneider Electric sign MoU on sustainable infrastructure    Sisi launches new support initiative for families of war, terrorism victims    Grand Egyptian Museum opening delayed to Q4    Egypt delays Grand Museum opening to Q4 amid regional tensions    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's EDA joins high-level Africa-Europe medicines regulatory talks    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Egypt discovers three New Kingdom tombs in Luxor's Dra' Abu El-Naga    Egypt launches "Memory of the City" app to document urban history    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Damietta Furniture City expected to attract $563m-investments: official
Sayed Badr Published in Amwal Al Ghad on 03 - 10 - 2016

The total volume of investments that would be pumped into Damietta Furniture City is expected to hit 4-5 billion Egyptian pounds (US$563 million).
Chairman of Damietta Furniture City company, Osama Saleh stated Monday that the new city would participate in increasing sector's exports and upgrading furniture industry.
Saleh -also the chairperson of Ayady for Investment and Development company- made these remarks during the ceremony of signing a cooperation protocol between Egypt's second largest state-run bank Banque Misr (BM) and Damietta Furniture City Company on financing small craftsmen.
Hereby the protocol, BM is set to provide 1.5 billion pounds to finance small craftsmen in the city, at a five percent interest rate within one year.
The ceremony was attended by state's Trade and Industry Minister Tarek Qabil and Planning Minister Ashraf El Araby as well as Damietta governor, Ismail Abd El Hamid.

Clic here to read the story from its source.