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MIIC offers 107 MSMEs investment units at Meit Ghamr zone on Thursday - Daily News Egypt

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MIIC offers 107 MSMEs investment units at Meit Ghamr zone on Thursday

MSMEDA to fund enterprises with EGP10m for machinery, equipment, says statement

The Ministry of Investment and International Cooperation (MIIC), will offer 107 investment units at the Meit Ghamr zone on Thursday 12 September until Monday 14 October 2019.

The units would be offered in cooperation with the Micro Small and Medium Enterprises Development Agency (MSMEDA), according to a ministerial statement issued on Wednesday.

MSMEDA will provide EGP 10m in funds for the micro and small businesspersons to assist them to purchase the machinery and needed equipment with six year instalments and one-year grace period.

The MIIC targets attracting new investments to the Meit Ghamr zone across different sectors, especially in the metal and aluminium industries, the statement noted.

The projects’ booklet of conditions will be available at the headquarters of Investors Services Centre in Nasr City, its branch in Gamasa, Daqahleya and in the headquarters of the Meit Ghamr investment zone.

Small and Micro businesspersons can apply for more than one investment unit according to the declared land areas, the statement read, noting that the contracts will be signed through the usufruct system for a period of 15 years.

“The contracts will be renewable after finalising the period of 15 years. Entrepreneurs can obtain the services, facilities, privileges, and licenses through the General Authority for Investment and Free Zones (GAFI), without the need to register in industrial entities,” the statement explained.

The Meit Ghamr investment zone will offer many services for the investors including training centres, exhibitions, worshiping places, a stadium and parking space.

In August 2019, the GAFI, affiliated to the MIIC, agreed with the MSMEDA to accelerate their joint efforts in order to promote investment in three local zones: in Meit Ghamr in Daqahleya, El-Saff in Giza, and Banha in Qaliubiya.

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