Minister of Local Development Hisham Amna announced on Monday that LE50 million had been allocated for the establishment of 74 industrial zones nationwide.
The aim is to increase the number of industrial projects on the new investment map of Egypt, and encourage investors to launch new development ventures to re-invigorate the local economy, the minister said.
Amna went on to say his ministry had provided 150,000 feddans (acres) to the aforementioned industrial zones in 23 governorates.
The minister spoke of the importance of continuous development of industrial zones in the governorates and new investments that create jobs.
The Ministry of Local Development is working on implementing a strategy to develop economic sectors in the governorates and attract local and foreign investment, Amna said.
The ministry aims to support investment in the governorates and help investors find out the capabilities and competitive elements available in each governorate, Amna said.
The ministry is also working on solving the problems facing national companies, the private sector and all investors to increase sustainable resources, Amna added.
Seventeen industrial complexes with 5,046 units have been established at a cost of LE10 billion.
