Deputy manager at Arab African International Bank Egypt Tamer Momtaz has proposed a new idea to re-establish closed Egyptian factories and attract new investment by using Google maps.
“We will use Google maps in three parts. First, the owners of suspended factories will enter their own data with all contacts needed, and then a particular colour will be selected for each factory activity with a pin on the site determining their location for easy search to the investors,” he said.
Three different colours will be selected for those have production lines, full staffed factories and those that produce spare parts.
He explained that if the investor wants to access a factory in a specific area, he will easily search for the colour needed on the map and will message the factory instantly. Participation will be free, without middlemen, which could save money for businesses.
The second part will mark the global markets that can receive Egyptian products and search for export opportunities in these markets. Information will be refreshed regularly by the Egyptian embassies abroad, including prices, means of communication, importing activity and investment opportunities for export.
The third part of the idea is the Egyptians volunteers who could offer their help in this project.
Minister of Manpower Kamal Abu Aita told Alarabiya channel that it is necessary to run the suspended factories because it helps in fighting unemployment.
He added there are almost 4,500 factories that had halted their operations in Egypt. He emphasised that the country needs to launch labour-intensive factories to eliminate unemployment.