Eng. Magdy Ghazi, Chairman of the General Authority for Industrial Development, said that it is targeted to attract investments in the industrial sector during the current year by 15-16 billion pounds.

He said in a special statement to the funds of tomorrow on the sidelines of Mid-Jet and Nile Mead, which started today, that the Authority is working to provide the land needed by the investor, where the target to put 15 million square meters during the second half of this year.
Ghazi pointed out that there are instructions from the Prime Minister to the Urban Communities Authority to set up and define the industrial lands where the Authority is currently in the process of apprenticeship. The target is to start the land in August, pointing out that the target lands are being offered in some cities and governorates including Sadat and New October, And Beni Suef.

He pointed out that the launch process in the city of Sadat, where is expected to include the introduction of between 4-5 million meters through the regular offering and not through developers.

On the other hand, he said that the completion of the 13 industrial complex ready to be licensed by the end of this year is expected to be completed, pointing to the high cost of construction from 5 billion pounds to more than 8 billion pounds to provide about 4300 jobs.

With regard to the Med Jet and Nile Med exhibitions, Ghazi emphasized that the exhibitors demonstrated the presence of a good industry in Egypt, whether in the field of medicines, medical supplies or cosmetics, as well as the enjoyment of products with high quality that helps them to compete externally. While providing their land needs.

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The Chamber is established by the Republican Decree No. 453 of 1958, which is one of the 20 industrial chambers of the Federation of Egyptian Industries, which includes about 4000 members, by virtue of the establishment decision, it covers the engineering industries sector in Egypt through 10 divisions.

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