L.E 400 million to accelerate completion of providing facilities  to Egyptian industrial zones

Completion of evaluating prices of two millions (m2) of industrial land to offer them to the investor...

  L.E 400 million to accelerate completion of providing facilities  to Egyptian industrial zones Completion of evaluating prices of two millions (m2) of industrial land to offer them to the investors Equivalent representation for all the relative parties in the presented files to ensure quality of government decision   Minister of Finance , Dr. Ahmed Galal declared that he approved L.E 400 million to support  General Authority for Industrial Development’s budget  during F.Y 2013/2014  to spend on providing facilities to industrial zones, according to the Egyptian new industrial plan which is being prepared by  Ministry of Trade and Industry. The Minister said that such allocations are within the government policy implementation,  aims to activate the economy by attracting foreign and local investors , and take prompt  measures to offer  industrial  lands to meet investors’  demands ,  indicating that the coming phase  will witness several steps in such field,  whereas the Supreme Assessment Committee  in the  Government Services Authority concluded prices evaluation of  600 plots of land, its area reached more than two million square meters to offer them to investors .   He added that he recently held meeting with  Minister of Trade and Industry, Mr . Moneer Fakhry Abdel Nour ,  Minister of Local Development, General Adel Labib ,  and head of  Industrial Development Authority and Fund of Providing  Facilities to Industrial Zone  , eng. Mahmoud El Garf , to discuss the Egyptian industrial zones status  and its financial needs to complete its facilities in order to promote  industrial  growth . He noted that the fund of providing facilities  gives  priority to the industrial  land located  in the  nearby of density  population areas to contribute in providing more job opportunities , and also for the regions contribute in achieving integration of  major  and  small  industries .    Head of  Industrial  Development  Authority, Mr. Mahmoud El  Garf  presented a suggestion to The Minister of  Finance to get revolving loan for a Fund aims to  establish , develop and provide facilities to the industrial  zones to be used in rehabilitation of  industrial regions and compounds , when such sums be returned , they will be re-used  in different regions, this will be according to specific conditions .  Minister of Finance confirmed that the optimal solution for ensuring coordination and effectiveness of the prepared plans is to equally represent relative parties in the presented files to take a sustainable and wise decision . He pointed out that Morocco established a council to formally and regularly communicate with shareholders , in order that the government will not conclude central planning away from the relevant sectors of shareholders, participating in responsibilities and defining priorities , so that the state efforts will not be in vain.