You are here:  Home  >  Business  >  Current Article

IMC benefited 397 companies in 1HFY: Minister of Industry

  /   1 Comment   /   186 Views

The centre aims to offer 2,084 new services to support around 625 industrial entities, IMC CEO says

Minister of Foreign Trade and Industry Mounir Fakhry Abdel Nour

Minister of Foreign Trade , Industry  and Investment Mounir Fakhry Abdel Nour

Minister of Foreign Trade, Industry and Investment Mounir Fakhry Abdel Nour announced that around 397 companies in Egypt, of which 87% are small and medium enterprises (SMEs), have benefited from developments of the Industrial Modernisation Centre (IMC) during the first half of the fiscal year (1HFY) 2013/2014.

Abdel Nour said that the centre will hold several meetings with representatives of various sectors and chambers to determine their demands and define challenges they face. He added that IMC’s programmes, currently under development, will help improve the competitiveness amongst industrial companies, increase production capacity and quality, raise the efficiency of workers and assist in exporting to overseas markets.

Chief Executive Officer at IMC Ahmed Taha stated that the centre aims to offer 2,084 new services to support around 625 industrial entities. He pointed out that following these services, the growth rate for the industrial companies will range between 5% and 7% in addition to offering 5,000 job opportunities.

Abdel Nour announced on Saturday that global technology company Samsung, along with Yemen’s Hayel Saeed Anam Group of Companies (HAS), will pump $100m worth of investments in Egypt. Samsung plans to invest around $60m into its Beni Suef manufacturing facility while HAS is willing to invest in solar panel production.

You might also like...

Minister of Industry and Foreign Trade has reached settlement with small- and medium-sized factories in New Cairo’s industrial area.

(AFP Photo)

Ministries of Housing, Industry to settle with 1,250 New Cairo factories to resume work

Read More →