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1,657 industrial units offered to youth, small investors in 7 governorates: Gamea - Daily News Egypt

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1,657 industrial units offered to youth, small investors in 7 governorates: Gamea

Industrial complexes are fully equipped, with each featuring administrative buildings, showrooms, sales outlets, and supermarket


A total of 1,657 industrial units have been launched in industrial complexes complete with facilities for youth and small investors, according to Nevine Gamea, Minister of Trade and Industry.

The launch comes as part of the initiative launched by President Abdel Fattah Al-Sisi to establish industrial complexes to help Egypt’s youth and small investors wishing to establish new or expand their industrial projects. It is based on owning or renting industrial units that focus on a variety of activities and spaces and complete facilities and services in many governorates across Egypt.

According to Gamea, who is also CEO of the Micro, Small, and Medium Enterprises Development Authority (MSMEDA), these units are located in Alexandria’s Margham 2 complex, which comprises 204 units of 144 sqm each.

More units under the initiative are located in other governorates, including the Hurghada complex in the Red Sea governorate, where there are 218 units of 336 sqm per unit. This complex gathers different industries, including food industries, engineering, chemicals, decorative building materials, furniture, and ready-made clothes.

A total of 611 units, with an area of 48 sqm each, have been constructed in the Al-Mahalla Al-Kubra complex in Gharbeya Governorate, to specialise in the chemical, engineering, furniture and clothing industries.

A total of 266 units have been constructed in the Bayad Al Arab area of Beni Suef Governorate,  specialising in engineering, food, chemical and mineral industries. These units are being offered in a range of areas, notably 432 sqm, 540sqm and 648 sqm).

Units are also located in Al-Matahra area in Minya Governorate, where 68 units of 432 sqm or 792 sqm each have been constructed, specialising in engineering, food and chemical industries.

The West Gerga region in Sohag Governorate is contributing 178 units to the initiative, in 612 sqm and 648 sqm options, with all types of industries available.

In Luxor Governorate’s Al-Baghdadi area, a total of 206 units have been constructed of 384 sqm and 432 sqm areas. These units are specialising in food, engineering, and chemical industries, decorative building materials, furniture and ready-made clothes.

Gamea said that these units will be allocated to young people and small investors through a rental or ownership system, while providing various banking facilities to help them set out. She also said that the tender specifications price ranges between EGP 300-EGP 500.

The minister also said that these industrial complexes have been equipped at the highest level, with each featuring a service area. This includes administrative buildings, showrooms, a mosque, sales outlets, a supermarket, a bank, a restaurant, and a cafeteria.

She added that each complex has specific industrial specialties to suit the investment opportunities of each governorate. They will also support interaction and integration between the various units by virtue of their proximity and location in one area.

Gamea said that these complexes have geographical advantages in terms of their proximity to railways, ports, or major markets or labour gatherings.

MSMEDA will provide all aspects of support and assistance to unit owners, including assistance in obtaining legal documents and licences, Gamea said.

At the same time, support will also be provided so that they can obtain funding for the purchase of machinery and equipment, and the provision of the necessary financial liquidity to start the project. This will take place in accordance with the conditions and controls approved by the agency.

The specifications and outline of the conditions are available until 2 November 2020 at all branches of the Industry Development Authority and MSMEDA in the seven governorates taking part in the initiative.

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https://dailyfeed.dailynewsegypt.com/2020/10/18/1657-industrial-units-offered-to-youth-small-investors-in-7-governorates-gamea/
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