Cairo – Mubasher: A total of 253 industrial projects were given final approvals in May, at a total value of EGP 2.2 billion, Egypt’s minister of trade and industry Tarek Kabil said Thursday.
The projects will provide around 50,000 direct job opportunities, across seven industrial sectors, with 64 approvals given in engineering, 44 in chemicals, and 79 in food industries, Kabil added in a statement.
About 36 approvals were issued for the spinning and weaving sector, five for minerals, nine for mining, one for leather, in addition to others in two more sectors.
The approvals included 22 governorates, with Giza in the lead with 45 approvals, followed by Cairo with 40, Sharqia with 37, Gharbia with 25, Qalyubia with 17, and Alexandria with 14.
Around 107 investors received approvals to expand their industrial businesses in May with total expansions in industrial zones and governorates amounting to around EGP 4.2 billion, compared to figures from the year-ago period, the statement showed.
On a year-on-year basis, 149 projects received initial conditioned approvals, up from 123, Ahmed Abdel Razek, head of the Industrial Development Authority (IDA), said.
