Egypt currently has a big plan to increase foreign investments in all fields, and currently the government has prepared a surprise that will increase Egypt’s dollar revenues with an imaginary number that will change the map of foreign investments in Egypt. I wonder what this surprise is.. and what effect it will have on Egypt’s dollar revenues. Follow us until the end and you will know the details.
The government in the new presidential period has presidential directions to increase dollar revenues in all fields, and there is a direct presidential follow-up to this story on a daily basis, and in fact, Dr. Mostafa Madbouly, Prime Minister, formed a ministerial group for industrial development under his leadership, and its goal is to support all industrial sectors in Egypt, and discuss factories. The park was stopped, restarted, and overcoming all obstacles that caused it to stop in the past period, and also amending investment legislation so that the Egyptian market is an attractive market for investments in all fields. .
Ok, what is the surprise that the government is preparing to support increasing Egypt’s revenues from the dollar?
Engineer Kamel Al-Wazir, Minister of Industry and Transport, said that the Egyptian state will offer 43 fully-equipped factories on the Egypt Industrial Digital Platform for investors, and all factories include all services and facilities, and the door for withdrawing brochures and applying electronically on the platform will be opened in the period from 11 to 25 December of this year.
The Minister of Industry and Transport said that the new factories will be of different sizes to meet all investors’ requests, and there will be 20 factories with an area of 2000 square meters, 6 factories with an area of 1000 square meters, and 17 small factories with an area of 121 square meters. The state also allowed investors the possibility of merging some factories. For investors with different sizes to suit their production capacities, these factories are dedicated to the manufacture of leather products and complementary industries.
Engineer Kamel Al-Wazir also said that in the coming period, the government will provide many facilities to investors who want to work in the factories of Rubiki City, and investors will pay 25% of the total factory price, and they will be given a 12-month grace period before completing payment, and there will be installments for the remaining price. The factory is over 5 years with an annual interest of 10%, but so that the investor can invest his investments in the first year and be able to buy production lines. The machines will be up and running as soon as possible.
Kamel Al-Wazir said that the new factories are coming with direct assignments from the government as part of the plan to attract foreign direct investments and promote the opportunities available in Egypt, and that the General Authority for Industrial Development in the Ministry of Industry will sign a cooperation protocol with the General Authority for Investment and Free Zones and the Commercial Representation Authority in the Ministry of Investment and Foreign Trade; With the aim of promoting and introducing investment opportunities in various industrial sectors in Egypt, including the Rubiki Leather City.
Because our state supports manufacturers and investors and compensates those affected by them, the state decided to hand over 21 leather tanning factories in the first phase to a number of investors. This is one of the government’s steps to compensate the owners of the tanneries of Sur Majra al-Ayoun, legalize their conditions, and support them in raising their production capacities.
