Economics

PM: Govt seeks to set up investment zones in each governorate

BANHA, Egypt – 16 February 2020: Prime Minister Mostafa Madbouli said on Sunday that the government seeks to set up an investment zone in each governorate as industry is on the top of its priorities.
It is likely that we could have more than one investment zone in the same governorate, Madbouli said during a visit to Banha city in Qalioubiya governorate, north of Cairo in the Nile Delta region.
These investment zones will help local manufacturers to make their products in their governorates at affordable prices then market them, which will consequently help control prices in market, he said.
Madbouli, accompanied by CEO of the General Authority of Investment Mohamed Abdel Wahab, visited the investors' service center in the investment zone in Banha.
The center facilitates license issuance procedures of projects.
Madbouli said Banha investment zone is specialized in food industries because of its closeness to cultivated lands.
The zone, covering 46 feddans, houses 187 units at the cost of 1.1 billion pounds, said Abdel Wahab. It also includes warehouses,
refrigerated storage spaces and sales outlets.
It is expected to create 3,500 jobs, he added.
Meanwhile, Abdel Wahab said 11 new investment zones are now under construction nationwide in the logistics, educational, service and industrial domains to provide 208,000 jobs and attract investments worth 78 billion pounds.



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