The 1673 industrial establishments have obtained licenses for operating, and building in addition to temporary operating permits from the Industrial Development Authority (IDA), up from 263 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 1673 industrial licenses included 1584 operating licenses and 89 building permits, in addition to that 557 industrial establishments were listed in the industrial registry.
Notably, in last July, the IDA announced that 1215 industrial establishments have obtained licenses for operating, and building in addition to temporary operating permits from the IDA, up from 281 licenses and temporary permits issued during the same period last year.
Moreover, 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 July 2017.
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 2017 to last August, has received a lot of requests from investors.
He revealed that the total number of the projects that came from these requests amounted to 390 projects with a total investment of EGP147.5 bn, in a total land area of 71m sqm.
“The foreign investments accounted for 72.3% of the total investment, 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.