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Thursday, 06 August 2020

Pilot version of industrial lands map to be launched in September: IDA head

The map will help investors to see opportunities in the Egyptian domestic market, with a particular focus on industries that can help reduce imports

Doaa A.Moneim , Thursday 15 Aug 2019
ManKai
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The Industrial Development Authority (IDA) is to launch a pilot version of the lands for industrial purpose map, and industrial investment opportunities in this regard, online in September, according to IDA head Magdy Ghazy.

Ghazy added, during a meeting held Thursday with a delegation of China’s Southeast University (SEU) and Chinese ManKai company, the map is the first guide for lands and industrial zones that includes all data about vacant lots ready to be tapped as investment opportunities in the new cities and governorates.

“For the new cities and industrial zones, it will be established in accordance with specific industrial activities which are targeted by Egypt’s government with the aim of reducing imports to bridge the exports gap for particular products across domestic manufacturing,” Ghazy clarified.

“China tops the list for Egypt’s exporters, and I hope that more Chinese companies inject industrial investment and establish production lines in the domestic market," he added.

During the meeting, Ghazy reviewed the blueprint of the industrial city Kom Oshim, which will be established using a green ecological system and new and renewable energy.

The city will adopt an integrated system for waste recycling and will include a technology university and a logistics service area, according to Ghazy, who also said that the IDA targets adopting strategic industries in addition to labour-intensive industries for the sake of deepening local manufacturing.

The IDA offered to assist ManKai in establishing an industrial textile zone in Sadat City, with the company already establishing initial contracts with other Chinese companies to work in it.

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