Magdi Ghazi, Chairman of the Public Authority of Industrial Development, said that Egypt is about to start the fourth industrial revolution preparations.
He pointed out that Egypt constructs more projects of the infrastructure to furnish industrial zones to set industries able to attain industrial development.
https://see.news/aboul-enein-industry-represents-pillar-of-development/
Ghazi assured over today’s sitting of Egypt Economic Summit, chaired by Mohamed Abul Enein, Business magnate and prominent industrialist, that since three years, the Egyptian government has concentrated on upgrading the infrastructure such as electricity grids and roads networks.
Also the government has mended legislation to get rid of laws that may hinder proper decisions in investment in Egypt.
https://www.imf.org/en/Countries/EGY/Egypt-qandas
The House of Representatives (HoR) has passed recently new laws of investment and permitting licenses.
He assured that launching an industrial revolution needs allotting plots of land urgently to establish factories.
Ghazi revealed that the developed countries offer stimulants to encourage investment there.
However, investors in Egypt ask to provide land with utilities to begin their activities at once.
Government has allotted 31 square million meters, eight million were taken by the private sector to lay out utilities for them.
Magdy Ghazi affirmed that specialized industrial would be established in Egypt now.
Developers of the private sector have started projects of that sort since 2007.
They launched projects such as towns of cars and textiles.
He added that there is a trend to establish specialized industrial cities.
Thirteen industrial compounds were constructed in various governorates across the country.
Every compound is limited to the economic activity prevails in a governorate such as aromatic herbs in Suhag, some 800 km south to Cairo, and textiles and ready wear in Beni Suif, 110 km south to the capital.
Ghazi warned that the current investment stimulants are not sufficient.
Some better ones will be offered during the coming period when the state is able to secure those motivations.
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