In a strategic move to bolster industrial development and attract investment, the Industrial Development Authority (IDA) has proudly announced the launch of the fifth phase of its electronic map for industrial investment. Encompassing an expansive area of 1.7 million square meters distributed across 14 governorates, this milestone underscores IDA’s commitment to fostering economic growth and innovation in the industrial sector.
A noteworthy feature of this phase is the unveiling of 152 dynamic investment opportunities within the industrial domain. These opportunities are strategically aligned with the IDA’s ambitious agenda to propel both domestic and foreign industrial investment. As part of its mission, the IDA seeks to amplify the efforts of the Ministry of Trade and Industry, dovetailing its strategy with the escalating demand for industrial lands.
Central to this phase are the alluring investment prospects offered on plots of land that boast comprehensive facilities. By designating priority industrial sectors, the IDA aims to galvanize investment interest and catalyze economic progress. A total of 790 plots of land, spanning 14 governorates, will be made available to investors hailing from both local and foreign arenas.
The application process for these enticing investment opportunities will be conducted entirely through electronic channels. Prospective investors can access informational brochures starting August 16 until September 6, 2023. This digital approach underscores the IDA’s commitment to streamlining processes and embracing technological innovation.
Diverse industries stand to benefit from the 152 investment opportunities on offer. These span the engineering, chemicals, construction materials, food, and pharmaceutical sectors. Notably, the IDA foresees that the activation of these opportunities could play a pivotal role in mitigating a trade gap estimated at approximately $30 billion.
Chairman of the Industrial Development Authority, Mohamed Abdel Karim, expressed his enthusiasm for this milestone. He noted that this marks the second investment offering in under 8 months, demonstrating the authority’s dedication to diversifying investment prospects. Abdel Karim highlighted that the ultimate goals encompass industry localization, the augmentation of local products, and seamless integration with global supply chains. The convergence of these objectives is anticipated to invigorate the local market and fortify Egyptian exports.
Abdel Karim further elaborated on the concerted efforts to disseminate these investment opportunities. Key stakeholders, including commerce chambers, investment consortiums, and business associations, have been actively engaged to amplify awareness and catalyze the realization of these opportunities. To facilitate access, the complete portfolio of investment opportunities is now accessible on the IDA’s official website.
In a resounding declaration of intent, the IDA’s fifth phase of the electronic map for industrial investment is poised to reinvigorate economic prospects, foster industrial growth, and create a bridge between domestic and international investment landscapes. As the deadline for application approaches, the stage is set for a new chapter of dynamic industrial development.
August 13, 2023
Delino Gayweh
Serrari Financial Analyst
photo source Google
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