1,300 industrial projects approved in H1 2017

CAIRO – 29 July 2017: The Ministry of Industry revealed that 1,300 projects obtained final approvals to be established inside and outside industrial zones with total investments of LE 23 billion ($1.3 billion) in the first half of 2017.

As per the industrial development indicators' report, the approvals included nine industrial sectors: food, engineering, chemicals, textiles, mining, power projects and leather. The projects are expected to offer 81,000 job opportunities.

June witnessed 167 approved industrial projects with an investment cost amounting to LE 2.5 billion and will offer 3,400 jobs, the report said.

Minister of Industry Tarek Kabil said that preparing an integral industrial investment map will contribute to increasing industrial investment in the next stage, as it depends on exact data on actual required projects to meet the needs of the industrial sector.

During June, 78 investors obtained approvals to expand their industrial institutions with total investments of LE 2 billion year-on-year, the report added.