"Narrative Summit" Releases 2025 Recommendations to Cement Egypt's Position as a Global Tourism Destination    Egypt, S.Arabia step up trade ties through coordination council talks    Egypt reviews progress on $200m World Bank-funded waste management hub    Egypt urges Israel to accept Gaza deal amid intensifying fighting    Egypt, ADIB explore strategic partnership in digital healthcare, investment    SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    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    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.



New industrial area in Borg El-Arab under study
Investments in the area are expected to reach EGP 8.6bn
Published in Daily News Egypt on 12 - 12 - 2015

The Ministry of Industry and Foreign Trade is studying the establishment of a developed industrial area in Borg El-Arab, Alexandria, Minister Tarek Qabil said Friday. The industrial area, which will host several industries, will be spread out over 5.8m square.
Around 2.1m square of the area will be allocated for logistics services and will be developed by the New Urban Communities Authority (NUCA). Investments in the area are expected to reach EGP 8.6bn and create around 58,000 job opportunities, according to Qabil.
After taking office in September, Qabil announced a five-year strategy targeting 1.5% in annual industrial growth. The strategy seeks to lessen the trade deficit and increase foreign income resources. The plan will also include means to attract foreign direct investment (FDI) and offer new job opportunities for youths.
To revitalise the industrial sector, the government spent EGP 2bn to facilitate industrial lands and allocated EGP 400m in the fiscal year (FY) 2015/2016 budget to facilitate industrial lands.
The industry ministry seeks to unify the body or agency to offer industrial lands since it is distributed between the ministries of Housing, of Industry, and of Investment. The ministry plans to develop the domestic industry since 28% of these industries are small.
The ministry plan to expand and develop the industrial areas across Egypt, focusing on Upper Egypt, develop industrial zones, and establish specialised industrial clusters for small and medium-sized industries.
The Ministry of Industry-affiliated Industrial Development Authority (IDA) launched "Erada" project in September, which consists of facilitating industrial licences' procedures and automating the land allocation procedures.
The World Bank (WB) allocated a total of $5m to implement the project, of which $2.25m were allocated to develop the investment services' system and develop and automate licences' procedures in IDA.


Clic here to read the story from its source.