Gov't offers incentives to investors reclaim Toshka, East Owinat

The Egyptian Prime Minister Atef Ebeid said the Cabinet approved offering incentives to investors to reclaim Toshka and East Owinat lands. About LE 25 million was allocated to finish the infrastructure projects needed to reclaim 40 000 feddans east the Suez Canal.

Mahmoud Abu Zeid, Minister of Irrigation and Water Resources, said that foremost among the projects to be carried out is the reclamation of 620,000 feddans east and west of the Suez Canal, the reclamation of 100,000 feddans in branch No 3 at Toshka and 148,000 feddans in the north coast to be irrigated from Al Hamam canal.

"The larger part of the infrastructure has been provided," the minister said.

Ebeid yesterday held a meeting to discuss a strategy to modernize the spinning and weaving industry and to seek immediate solutions for obstacles standing in the way of upgrading this industry in preparation to carry out the Egyptian-European partnership agreement.

Chairman of the General Authority for Investment and Free Zones, Mohamed Ghamrawy, said after the meeting that the Prime Minister reviewed a number of reports on the spinning, weaving and ready-to-wear garments industry and means of upgrading it.

The review included the experience of advanced countries in this field and means of increasing exports with a view to doubling their value.

A technical committee will be set up to propose immediate solutions for problems, which face the spinning and weaving industry. It will include representatives of the Ministries of Finance, Economy, Industry and the Authority for Investment.

Ghamrawy said that immediate solutions would be sought to solve all problems facing exporters.