Minister of Trade and Industry Tarek Kabil - Archive
CAIRO - 27 May 2017: A number of 201 industrial projects worth LE 2.3 billion ($127.11 million) in investments have been granted final approvals in April, Minister of Industry Tarek Kabil said in a Saturday statement.
Kabil explained that the given approvals are in nine sectors including food industries, engineering; chemical, textile, mineral and pharmaceuticals sectors, creating more than 6,000 job opportunities.
“These indicators come to support the ministry’s industrial development strategy for 2020, which targets boosting the industrial growth rates to 8 percent and increasing the contribution of the sector in GDP from 17.7 percent to 21 percent,” Kabil said.
The minister added that the approvals cover the governorates of Cairo, Sharqia, Giza, Beni Suef and Aswan.
Citing the ministry’s industrial development index for April, Kabil said that 78 investors were granted approvals to expand their projects, with LE 5 billion in investments in April, up from 73 expansion licenses with LE 3 billion in investments registered in April 2016.
Talking about small and medium enterprises (SMEs), the minster noted that the small industrial complexes, affiliated to the ministry, have reached around 3,600 units, located in Sadat and Burg al-Arab cities and Ismailia, Dakahlia, Assiut, Aswan, Sohag and Qena governorates.
Head of the Industrial Development Authority Ahmed Abdel Razik said in the same statement that 110 projects have been given initial conditional and instant approvals in April.
Moreover, another 589 industrial establishments have been registered and updated in the industrial record last month, Abdel Razik added.
A total area of 18,790 square meters has been allocated for industrial developers in 6th October and 10th Ramadan industrial zones, he said.
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