Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, has announced the establishment of three private free zone factories with a combined investment of $216.5 million. This initiative underscores the government’s commitment to attracting investment and enhancing industrial development across the nation.
During the 27th meeting of the Ministerial Group for Industrial Development, attended by key ministers and senior officials, Al-Wazir emphasized the strategic importance of streamlining industrial licensing processes. By activating the one-stop-shop system at the Industrial Development Authority, the government aims to cut through bureaucratic red tape, facilitating smoother project approvals and land allocations.
The newly approved projects include a PVC panels and flooring manufacturing plant in New Alamein City, a ready-made garments factory in New Beni Suef City, and a textile manufacturing project in 10th of Ramadan City. Together, these ventures are expected to create over 15,000 jobs, driving economic growth and addressing domestic demand.
“The PVC project represents a pioneering step for the Egyptian market, strategically located to meet domestic needs,” Al-Wazir stated. “Meanwhile, the garments and textile factories align with our strategy to leverage Egypt’s skilled labor force and expand labor-intensive industries.”
The government’s efforts extend beyond these projects, with initiatives aimed at enhancing the investment climate in governorates like Beni Suef, Minya, and Fayoum, known for their rich pool of skilled labor. Two integrated textile cities have been launched in Minya and Fayoum to support job creation and boost exports, further solidifying Egypt’s industrial base.
Dr. Hossam El-Din, an economic analyst at Cairo University, commented, “These investments reflect a strategic shift towards sustainable industrial growth. By focusing on sectors where Egypt has competitive advantages, the government is laying the groundwork for long-term economic resilience.”
To support these industrial advancements, the meeting addressed the need for upgraded utilities in industrial zones and sustainable natural gas supplies for factories. Al-Wazir directed the formation of a joint technical committee to restructure the Industrial Utilities Support Fund, ensuring effective infrastructure development.
Moreover, the Ministry of Petroleum’s recent efforts to secure gas supplies for the national grid, through increased domestic extraction and regasification vessels, were highlighted as crucial measures to maintain production momentum and meet rising industrial demand.
