A new website, named Momtaz-map, will be launched Saturday to help encourage investments and reopen factories that were shut down, Deputy Manager at the Arab African International Bank Egypt (AAIB) Tamer Momtaz told Daily News Egypt.
“Each member involved in the production process will register his location on Google Maps,” Momtaz said.
Each individual will list the data they contribute to any production process, whether this data is a land they own, skilled labour, capital, services or agricultural services, he noted.
Momtaz stated that the low levels of investments and the lack of desire from foreigners to pump money in Egypt prompted the creation of this free investment website.
The website will encourage the participation of local investments and increase the number of small and medium enterprises in all sectors, Momtaz added.
Momtaz has previously explained that the owners of suspended factories will enter their own data with all contacts needed, and then a particular colour will be selected for each factory activity with a pin on the site determining their location to allow investors to locate them with ease.
The second part will mark the global markets that can receive Egyptian products and search for export opportunities in these markets. Information will be updated regularly by the Egyptian embassies abroad, including prices, means of communication, importing activity and investment opportunities for export.
The third part of the plan involves Egyptian volunteers who could offer their help in this project.