829 new industrial projects
Egypt, Economics, 8/25/2001

In an interview with Al-Ahram Moustafa El-Rifai, Minister of Industry and Technological Development declared that 829 new industrial projects started their activity during financial year 2000/2001, and they realize a total production amounting to L.E. 29.463 billion.

The investment cost of these projects reached L.E. 24.580 billion vis-a-vis L.E. 20.930 billion in the previous year, with an increase of 17 percent.

The total production of these projects amounted to L.E. 29.463 billion, vis-a-vis L.E. 26.976 in the previous years, with an increase of 9 percent.

The projects include 215 for foodstuff and clothes, 124 for weaving, spinning, and leather products, 24 for wood products, 35 for paper printing and publishing, 145 for basic chemicals, 32 for building material, ceramics, porcelain, and theramics, 11 for basic metallic products, and 212 for transport engines and equipment.

Such big number of projects has already been registered in the General Organization for Industrialization.

These projects represent an indicator of the political, security, and economic stability that encourages long-term investment.

They also indicate the increased trend to establish relatively big projects, due to their efficiency, and the competitive power of their products either in the local or external markets.

Industry is one of the basic tools to realize balanced development, as the new projects have spread out over 24 governorates.

The Egyptian industry is one of the basic axes to provide job opportunities. The projects provide 530028 opportunities, with total wages and salaries L.E. 394 million.

592 new projects have already started production in 24 governorates all over Egypt, except the new communities. The total investment cost of these projects reached L.E. 24.831 billion, with annual production of L.E. 21.742 billion.

Significant facilities have been presented to investors in industry to encourage the investment in this domain.

Previous Stories:
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  More investments needed to provide more jobs   (8/22/2001)

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