Eng. Amr Assal, IDA Chairman, participated in the meeting held by the Arab Federation for Engineering Industries, headed by Eng. Abdel Hadi Abdel Moneim, with the young Arab industrialists. The meeting tackled the future of the industrial development in Egypt and studying the investment opportunities for the young Arab industrialists within the framework of the international and regional developments. The meeting was attended by a number of high officials and Arab investors.
Assal ststed that the Ministry of Trade and Industry's vision is to change the industry's sector to attract the industrial investments, encourage the technological development, motivate the economic growth and create new job opportunities.
Moreover the ministry aims at turning the Foreign Trade policy into exports-encouraging policy through liberating the national economy, and the effective integration in the international markets.
IDA Chairman added that the Ministry of Trade and Industry prepared several programs to implement the electoral program of President Mubarak, such as the program of reutilizing the assets owned by the Business sector (Kafr El Dawar); 28 industrial projects are under construction on an area of 238.000 m2 with LE460 million investments providing 6500 job opportunities.
3631 projects were allocated in the industrial cities within the last three years on an area of 22.5 million m2 with nearly LE39 billion investments, Assal confirmed.
The government pays great attention to the youth projects; as it allocated 1484 land plots as a first phase on an area of 500.000 m2 with LE200 million providing 15.000 job opportunities.
Concerning the new generation of industrial complexes with the general developer system, Assal affirmed that the new zones reached 11 industrial zones in 10th of Ramadan and 6th of October Cities covering an area of 18 million m2. It is planned to establish 1405 factories in these zones with LE26.6 billion expected investments providing 165.000 job opportunities. 7 factories started production, although it is planned for these zones factories to start production in 2011.
East Port Said project is considered one of the major investment projects in Egypt especially after the opening of the port which is ranked the third among the Mediterranean Sea ports. Its hinterland is considered the largest industrial zone in Egypt. The hinterland covers an area of 87km2 with $180 billion expected investments within 20 years.
Concerning the Egyptian labor productivity, some investors utilizing the help of foreign labor, Assal pointed out that some factories have great industrial and training base thus they achieve great productivity, whereas some weak-productivity factories employ foreign labor.
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