400 new industry investors show interest in Egypt

CAIRO – 6 December 2017: The recently-launched interactive industrial map attracted around 400 investors so far, Chairman of the Industrial Development Authority (IDA) Ahmed Abdel Razek said Wednesday.

“The map is considered a new era of transparent dealing with investors as it provided them with the enabling environment for industrial investment,” Abdel Razek said during a press conference.

The Ministry of Industry and Foreign Trade launched in late October a comprehensive map for industrial investment involving opportunities in several of the sector’s segments. These opportunities were defined according to the competitive characteristics of every governorate.

The investment map includes 4,136 opportunities in eight sectors, including engineering, chemicals, food and fabrics.

Around 1,260 opportunities are in the engineering industries, 860 in the chemical industries, 640 in the food industries, 600 in the textile sector, 395 in the mining sector, 180 in the pharmaceuticals sector, 122 in the metal industries and 56 in the leather industries.

The small industries comprised 56 percent of the presented opportunities, followed by 23 percent in the medium industries, 13 percent in micro-small industries and 8 percent in giant industries.

At that time, the Minister of Industry and Foreign Trade Tarek Kabil said that the map comes in line with the 2020 industrial development strategy, which targets increasing the contribution of the sector in the gross domestic product (GDP) from 17 percent to 21 percent.