The World Bank prepares a strategic study to monitor the results of improving the investment climate in Egypt, said Jade Salhab, senior private sector development specialist at the World Bank.
Salhab pointed to the importance of the role and participation of the private sector in the program in improving infrastructure and quality, which will contribute to creating more job opportunities and attracting more investments.
This came during an extensive meeting held by Nevine Gamea, Minister of Trade and Industry - via video conference - with World Bank representatives headed by Mohamed Nada, senior urban specialist at the World Bank Group to discuss the latest developments in the local development program in Upper Egypt.
Gamea said that the meeting dealt with the most important components of the program, which is based on two aspects, the first of which is to support the competitiveness of the economic sectors and the business climate through improving the infrastructure and management system in the industrial areas, and supporting productive blocs to stimulate investments, and government services provided to the business.
The second aspect is to improve access to services, infrastructure, and the quality of life to citizen, in terms of institutional development and capacity building for local administration, in addition to developing an integrated local planning system and activating mechanisms for determining development needs, as well as improving contracting systems, management and maintenance.
On his part, Hisham al-Helbawi, programme manager for local development in upper Egypt praised the Ministry's efforts to grant a boost to this program by seeking to allocate EGP 4 billion for a period of two years to boost the local industrial component, attracting more investor to industrial areas.
The World Bank representative praised the completion rate of the industrial component in the local development program in Upper Egypt during the past 6 months.
Al-Helbawi pointed out that the occupancy rates have increased in industrial zones after announcing the attachment of infrastructure industrial lands in Sohag and Qena governorates.
He added that the program has a plan to hand over 4 industrial zones in the governorates of Sohag and Qena, where two regions were established in Sohag Governorate, west of Gerga and Tahta, in addition to two other areas that will be offered in Qena.
Al-Helbawi noted that the program sent a note to the Cabinet on establishing a single window between the General Investment Authority, the Industrial Development Authority and the Ministry of Local Development to simplify and unify the procedures in front of investors.
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