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Minister of Trade & Industry & Minister of Local Development, General Abdel Salam Al Mahgoub inaugurated the Industrial Integration Initiative Exhibition & Conference (South Valley). This event was organized by IDA in coordination with the Industrial Modernization Center and was attended by the South Valley Governors; heads of business organizations, investors' associations, and the Social Fund for Development and the Association of Egyptian Banks.121 of Upper Egypt's companies are participating in this event.
This comes within the plan of developing Upper Egypt's Governorates, as a main part of the Electoral Program of
The President of Republic & activating the cooperation protocol, IDA signed with the Federation of Egyptian Industries, the Association of Egyptian Banks, Industrial Modernization Center, the Social Fund for Development to finance the new projects and the industrial integration for the existing enterprises in Upper Egypt and promoting for them at the large factories all over the country.
Chairman of IDA stated that there are 121 existing companies in Upper Egypt will participate in the exhibition working in the fields of chemical, spinning industries, food, engineering, furniture industry, building materials, in addition to pharmaceutics industries.
IDA Chairman added that the exhibition will be established on an area of 250 m2 pointing out that it will contribute in promoting for the capabilities of Upper Egypt's factories at the large companies with exporting capabilities.
IDA Chairman also clarified that IDA plans at increasing the productivity rate of 150 factories in Upper Egypt with costs of L.E1.5 billion providing 7500 job opportunities, with an average of 50 job opportunities for each factory which will raise its productivity efficiency in turn .
The Minister declared that the main goal of holding the conference represented in creating a real communication among the existing companies in Upper Egypt from one side & other companies all over the country from the other side, to connect the industrial entities in Upper Egypt with the greater entities to help them in opening new markets for their products.
It is noteworthy that the industrial establishments registered at IDA in Upper Egypt Governorates reached 6080 establishments with investment costs estimated at L.E35459 million providing 147851 job opportunities.
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