“Industrial developers play an important role in developing industrial zones in localizing and deepening the Egyptian industry,” stated ElKhatib.

He added that Polaris, the industrial land development company with operations in the MENA region, successfully executed investments of $4.5 billion, offering 65,000 job opportunities.

The minister noted that many Egyptian and foreign companies that own some of the largest international commercial brands are working inside PIIP.

ElKhatib also discussed the methods of strengthening the cooperation between the Ministry of Investment and External Trade and the company, including organizing a promotional visit to Turkey in September on the sidelines of the Egyptian-Turkish Business Council to attract more Turkish investments to the Egyptian market.

“The company was established in 2007 and has an investment portfolio that includes 12 projects spanning over seven million m2 in the cities of 10th of Ramadan, 6th of October, and Sadat,” stated the Chairman of PIIP Tunc Ozkan in the meeting.

Furthermore, the ministry announced Wednesday the plan of the Indian Ostwal Group of Industries (OGI) to invest $300 million in establishing a fertilizer production plant with an annual capacity of 700,000 tons in Egypt.

On a similar note, the Ministry of Finance declared Wednesday that raising the contribution of both the local and foreign private sectors to the economy is a top priority in the new government's agenda.