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 At conclusion of the Industrial Integration Initiative Conference & Exhibition (South Valley), Eng. Amr Assal, chairman of the Industrial Development Authority (IDA), spoke about the government and investors' interests in reaching a practical solution to support the Upper Egypt governorates, focusing on the existing factories in Upper Egypt.
Assal recommended setting a plan for Upper Egypt companies' participation in exhibitions round the year besides the Ministry's contribution through provision of introductory brochures and marketing films. Assal added that development in Upper Egypt requires attracting investments, providing finance and marketing for companies there and subsidizing industrial zones.
The conference's attendees agreed on a number of recommendations such as enhancing marketing opportunities of Upper Egypt's projects through a prior plan for expos. At the same time, the investors' associations & unions and the Industrial Modernization Center (IMC) will make a list of eligible companies that will participate in exhibitions & fairs according to a time schedule. Moreover, the projects with investment assets of more than LE5 million will be financed by The National Bank (NB) while the projects of less than LE5 million will be financed by the Social Fund for Development (SFD).
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On the other hand, it was recommended to study the participation of the South Valley's companies in the international exhibitions & fairs. Every exhibitor is to prepare a report on the participation pros and cons to come up with a comprehensive appraisal of the experiment. The NB is to coordinate with the European Bank for reconsideration of the minimum assets (LE5 million) of the projects that will benefit from the financing & participation program. Furthermore, an action plan involving IDA, NB, Federation of Investors' Associations, IMC and SFD for establishing cooperation between companies which desire to draw up partnerships with Upper Egypt's factories.
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