The Ministry of Industry and Trade launched an initiative called “Your Factory is Ready with its Licences” for the first time in Egypt.
The Industrial Development Authority (IDA), a subsidiary of the ministry, announced that investors were invited to establish and launch 296 factories at an industrial compound for small- and medium-sized industries in Sadat City. Plots are available in various sizes of up to 1,000 sqm and can be used for different fields, such as engineering, food, and pharmaceutical industries depending on the submitted requests.
Minister of Industry and Trade Tarek Kabil said this compound is the first implemented step in the ministry’s plan for establishing three licensed industrial compounds in Badr, Sadat, and Port Said cities to include 500 small- and medium-sized industrial institutions.
This initiative is supported by the president and targets to provide licensed industrial facilities and institutions for small- and medium-sized industries owing to the sector’s contribution to improve Egypt’s industry. Kabil said this will also push development and production, as well as provide many employment opportunities for youth.
Ahmed Abdel Razek, chairperson of the IDA, said applications for these factories will begin on Monday at Green Desert Maadawy Hotel on the Cairo-Alexandria desert road at the 84-km mark.
The allocation will depend on first-come first-serve, and an advanced payment of 5% of the total price of the factory.