President Abdel Fatah al-Sisi at the inauguration ceremony of New Mansoura City on December 1, 2022. Press Photo
CAIRO – 1 December 2022: “I’m warning you that overpopulation will eat away at the country,” President Abdel Fatah al-Sisi said Thursday at the inauguration ceremony of New Mansoura City, adding that “if the population continues to grow at this rate, the damage will not be reversible.”
Member of "Ebdaa" (Start) stated during the ceremony that the initiative received thousands of requests by industrial establishments seeking incentives and assistance.
He added that a factory worth $50 million was built through Ebdaa in Daqahliyah, and it will begin operation in a year. The initiative also provided training to industrial investors in the governorate.
Member of "Start" initiative Aya Hossam El Din stated in a TV interview in October that the number of industrial projects launched within the initiative is 64, and that they are concentrated in the sectors of home appliance, water treatment, and petrochemicals among others.
Hossam El Din pointed out that the initiative is estimated to substitute products that used to be imported at a cost of $16 billion, as reported by local media. She added that a lab has been established to assess the quality of products manufactured locally, ensuring they meet international standards.
The main features of the initiative are tax exemption for five years, and offering lands for investors in the leasing system.