1215 industrial establishments have obtained licenses for operating, and building in addition to temporary operating permits from the Industrial Development Authority( IDA), up from 281 licenses and temporary permits issued during the same period last year, according to the latest report received by the Minister of Trade and Industry, Amr Nassar from the Industrial Development Authority.
The 1215 industrial licenses included 150 operating licenses and 65 building permits, in addition to that 529 industrial establishments were listed in the industrial registry, compared to 766 permanent and temporary records during the same period last year.
The report explained that the 529 is divided as 307 permanent records and 459 provisional records.
For his part, Ahmed Abdel Razek, Chairperson of IDA, assured the keenness of the IDA to provide all facilities to encourage the industrial investors to invest in new projects and attract foreign investors to invest in the industrial sector in Egypt.
In this term, he noted that the Authority in the period from March 2018 to last July, has received a lot of requests from investors.
He revealed that the total number of the projects that came from these requests amounted to 378 projects with a total investment of EGP146.5 bn pounds with a total land area of 71 million square meters.
“ The foreign investments accounted for 72.3% of the total investments, which confirms the attractiveness of the foreign investor to invest in the Egyptian market and his confidence in the investment climate in the industrial sector in Egypt,” he insisted.