Cairo – Mubasher: Egypt’s Industrial Development Authority (IDA) is currently working on completing the procedures of launching 13 new licensed industrial complexes within the first half of 2018, trade minister Tarek Kabil said in a statement on Tuesday.
The complexes will include 4,436 factories at an estimated cost of EGP 5.4 billion, Kabil noted, adding that they will create about 43,000 direct jobs.
This comes as part of the presidential initiative to employee youth, which covers 12 governorates, including seven complexes in each of Aswan, Luxor, Qena, Sohag, Assiut, El Minya, and Beni Suef.
The IDA will also launch five industrial complexes in the governorates of Red Sea, Alexandria, Gharbia, Beheira, he indicated, adding that two complexes will be established in Fayoum.
In December, Kabil said that the ministry will launch a number of factories in Badr city in January.
