Daily News Egypt

IDA to co-manage, develop industrial parks in 12 governorates - Daily News Egypt

Advertising Area

Advertising Area

IDA to co-manage, develop industrial parks in 12 governorates

MSMEDA to provide necessary financing to owners of small industrial projects

Nevine Gamea, CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA) signed a Memorandum of Understanding (MoU) with Magdy Ghazy, head of the Industrial Development Authority (IDA), to cooperate and coordinate the management and development of industrial parks in 12 governorates to support small enterprises and encourage young people to establish industrial projects in these zones.

Gamea said that MSMEDA will coordinate with the IDA on receiving rent or ownership requests from young people and experienced citizens wishing to rent or buy one or more units that will be offered for sale through the IDA offices. She pointed out that it will be announced in succession in the media and the website of MSMEDA, determining the target conditions for each complex and the type of industrial activities appropriate to each zone.

Gamea pointed out that MSMEDA will provide the necessary financing to the owners or tenants of these units, for the implementation of small industrial projects, upon completion of all construction and allocation procedures and licenses necessary for launching activities, through specialised financing programmes, with the provision of a package of non-financial services, such as marketing, training, and exhibition services.

She added that these complexes will provide distinct investment opportunities for those wishing to set up new industrial projects or develop their existing projects, whether young graduates or entrepreneurs, who have experience, owners of existing projects and willing to expand, or professionals and technicians of both genders.

For his part, Ghazy said the IDA will promote projects within the industrial parks mentioned in the MoU, and will issue all licenses, approvals, and permits for the practice of activity for the projects operating in industrial zones.

He added that the IDA will also work to overcome all the obstacles facing the beneficiaries who have obtained these industrial units, whether ownership or lease to ensure the continuation of their projects.

Advertising Area

Breaking News

No current breaking news

Receive our daily newsletter