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IDA Chairman, declared that IDA is about to offer the 4th phase of the Public-Private partnership program concerning the management, establishment and servicing new industrial zones with the general developer system next month. This came within the framework of the second day of the13th International Business Forum organized by the Chamber of Commerce in Cairo. It was held on Wednesday 14/10 in cooperation with Musiad, IBF and more than 1500 businessmen from Egypt and the Muslim world especially Turkey, where a workshop, related to the trade and industrial development, was held. It was attended by Nevin Al Shafey on the behalf of GAFI Chairman, Mohamed Bin Youseif, General Secretariat of Arab Industrial Development and Mining Organization. The workshop was run by Ibrahim Al Maghraby, Member of the Chamber's Board of Directors.
IDA Chairman confirmed that opening East Port Said harbor achieved a great success; as it is ranked the third among the Mediterranean harbors. Moreover its industrial hinterland is considered the biggest industrial zone in Egypt. It covers an area of 87 million m2 with $20 billion expected investments.
IDA Chairman pointed out that despite the world financial crisis, IDA received 1150 applications to obtain 220 serviced land plots. The foreign investments keep flowing in spite of the crisis because Egypt's production cost is lower by 30% of the other countries,
IDA Chairman confirmed. He also showed the current facilities provided to the investors such as: shortening the period of obtaining high energy projects' licenses. The rest of projects' licenses are granted in the same day of applying whether from IDA headquarters and branches or from the governorates.
Mohamed Bin Youseif, General Secretariat of Arab Industrial Development and Mining Organization stated that the organization aims at planning to support the establishment of the industrial and mining projects in the Arab world and enhancing the technological, technical and training cooperation among the Arab countries. He also pointed out that the Arab world has several resources in the energy field; it has 50.3% of Oil international reserve and 29% of Natural Gas in addition to the renewable energy resources.
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