Factory owners in Egypt founded the first independent syndicate for industrial investors, headed by the chairman of GMC Group, Mohamed Genidy. One of the founders of the syndicate, Naji Alber told Youm7 the main aim of the syndicate is the to protect investor interests and deal with their problems, especially concerning the Ministry of Finance and the Ministry of Foreign Trade and Industry. Alber added that the syndicate's board of directors chose 21 members. The 70 founders are factory owners. This syndicate is the first of its kind since the January 25 Egyptian Revolution after independent syndicates were legalized.