The
state offered unprecedented investment incentives and advantages to help young
people get their own units in seven recently announced industrial complexes,
Trade and Industry Minister Nevine Gamea said on Monday Oct 26.2020.
These benefits were offered as per President Abdel Fattah El Sisi's directives
to allow young investors to have their own industrial units and provide them
with all needed services to encourage them to establish small and medium sized
enterprises, create a new generation of Egyptian industrialists and secure
thousands of decent job opportunities, added Gamea, who doubles as Executive
Director of the Micro, Small and Medium Enterprises Development Agency
(MSMEDA).
Gamea made her remarks during an expanded meeting with representatives of the
Federation of Egyptian Industries (FEI) chaired by Mohamed Zaki El Sewedy to
review the facilities and investment stimuli offered by the ministry to young
investors, such as reducing the price of tender documents from EGP 2000 to EGP
500 and even EGP 300 in some cases.
She said that many investors have been applying for purchasing their units in
the industrial complexes located in seven governorates, noting that as many as
900 investors had bought their tender documents since the start of the bidding
process on October 13.
Source: State Information Service
