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 The Industrial Development Authority (IDA) singed a cooperation protocol with Beni Sueif Governorate aiming to provide the necessary subsidy (L.E 59 million) needed for completing infrastructure in Kom Abu Radi industrial zone& finalize the main feeding, electric network, water treatment and the interior infrastructure works, in addition to developing Baiad Al Arab industrial zone (3rd phase) to accomplish sanitary works for the whole zone through provision of the necessary subsidy from IDA's Fund for Subsidizing Establishment, Servicing and Development of Industrial Zones. The Executive Agency for Projects at the Ministry of Trade & Industry will follow up the progress of executive works to develop infrastructure in these industrial zones.
This came on the sidelines of " Operating & Investment Conference in Upper Egypt 2008 " at Beni Sueif, organized by the National Democratic Party (NDP) .The conference was headed by Mr. Gamal Mubarak, the Assistant Secretary General and Chairman of the Policies Committee at NDP on 6/3/2008 .The conference was attended by Chairman of IDA, Eng. Amr Assal, Minister of Investment, Dr. Mahmoud Mohie El Din & Beni Sueif Governor Ahmed Zaki Abdin.
Assal said that IDA's Fund for Subsidizing Establishment, Servicing and Development of Industrial Zones is responsible for studying industrial zones in Egypt.L.E800 million was earmarked to develop these zones; 40% of this amount was directed to Upper Egypt's industrial zones; L.E57 million for Beni Sueif Governorate, Assal pointed out.
Assal also stated that this protocol comes within the framework of the state's efforts to boost economic development all over the country in order to promote Egyptian economy. The protocol was also signed with the aim of activating the 1000-Factory Program, as a main part of the Electoral Program of President Mubarak & achieving IDA's plan to develop & provide utilities for the existing industrial zones nationwide.
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