‘Invest in Luxor’ website to be launched soon

CAIRO – 8 November 2017: Trade Minister Tarek Kabil and Governor of Luxor Mohamed Badr are set to launch the “Invest in Luxor” website soon, which shows 56 industrial investment opportunities in the Upper Egyptian governorate of Luxor.

The website will be launched during an upcoming conference titled "Invest in Luxor - Unlocking Industrial Opportunities" which will be held on November 12 in Luxor, a statement from the United Nations Information Center (UNIC) said Wednesday.

The conference is organized by IMKAN project for youth employability and entrepreneurship in Upper Egypt, a project implemented by the United Nations Industrial Development Organization (UNIDO) with the Ministry of Trade and Industry and Luxor governorate, and with funding from the Government of Japan.

The ‘Invest in Luxor’ website will act as a knowledge sharing hub offering information on the investment opportunities, operating startups as well as showcasing the Entrepreneurship Ecosystem Map, which has acted as the model for the project and can be implemented in other governorates in Upper Egypt, the statement said.

The IMKAN project aims at diversifying the local economy, developing the local private sector and enhancing youth employability in Luxor.

Luxor enjoys a central geographical location amongst the governorates of Southern Upper Egypt and is considered Egypt's southern portal to Africa as well as the commercial gateway between the Red Sea governorate and Upper Egypt.

It also has a worldwide reputation as the tourism capital of Egypt, mobilizing major capital into the creation of local services such as hospitality and conference centers, the statement read.

It added that Luxor saw the successful creation and growth of 22 startups and micro and small enterprises, with initial investment ranging from LE 30,000 to LE 1 million, in three priority sectors, namely waste management, sustainable agriculture and food production, and sustainable energy.

The 22 startups will be participating in the conference, showcasing their products to market players such as suppliers, buyers, larger firms, NGOs and financiers.

The launching of the Invest in Luxor website comes as part of larger efforts by the Egyptian government to ramp up industrial investment. The Trade industry has recently launched an interactive map of industrial investment that shows the opportunities currently available across Egypt.

The map includes 4,136 investment opportunities in eight industrial sectors in 27 governorates, giving information on industrial zones in each governorate, their resources, the existing projects and available industrial projects.