File – Minister of Supply and Internal Trade Ali Moselhy
CAIRO – 5 December 2017: Egypt will build the first logistic city in Gharbia governorate on an area of 82 feddan with LE 6 billion ($339 million) in investments, Supply Minister Ali Moselhy said in a statement on Monday.
The new project will create thousands of direct and indirect jobs, and it will help the internal trade sector add a 17-percent increase to the country’s Gross Domestic Product (GDP), with a future plan to raise this figure to 21 percent, Moselhy.
Retail trade can create 42,000 direct jobs and 210,000 indirect jobs, the statement pointed out, adding that with the continuous population growth at an yearly average of 2.6 percent and the pursuing increase in income of the middle class, the consumption growth rate is expected to raise to 12 percent for the coming five years.
Moselhy said his ministry has a plan to establish 12 logistic zones on an area of 20 feddan, in addition to setting up 10,000 store brands and hypermarkets.
He added that his team is working on settling all challenges facing investors and renewing new ways to promote investments nationwide.