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 Within the framework of the 2nd conference of investment in Canal Governorates, held on Saturday 10/1/2009, IDA Chairman, Amr Assal displayed the Ministry of Trade and Industry achievements as follows: the increase in the real growth rate of industrial product to reach 8% within the last 4 years exceeding the gross domestic product rate. In addition to achieving LE48 billion industrial direct investments during 2008 and providing 600.000 direct jobs.
TRegarding the world financial crisis, Assal stated that it has an evident impact on the exports of some factories, as they started to decrease their production. Thus the Ministry of trade and Industry set some procedures to face the world financial crisis effects such as: fixing gas and electricity prices for all factories till 31st of December, 2009 and postponing the payment of industrial lands installments of year 2009 for one year.
In spite of the world financial crisis and its drawbacks, investors still embark upon the industrial activity; last October IDA offered 278 lands and received 1320 proposals. Moreover, 2 international companies were submitted to IDA for obtaining a license of pelitize previously offered by IDA.
Concerning the projects and new programs adopted by the ministry, Assal pointed out that a new logistic zone will be established in 10th of Ramadan City due to its closeness to the Suez Canal ports and the industrial zone, and another one in Sadat City for its approach to Alexandria ports. The two zones are set on an area of 20 million m2.
The general plan of East Port Said zone started in 2005 and achieved great success in the field of containers, was finished by the international consultation company DHV. The project is currently under study by the council of ministers. A workshop will be set up next March to offer the investments of East Port Said industrial zone to the investors.
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