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Economic development

Egypt Approves Three Industrial Projects Worth $138 Million, Creates 15,150 Jobs

Strategic Insights

— 1 min read

The Egyptian government has given the green light to three new industrial projects, worth a total of $138 million, which are expected to create 15,150 jobs. The projects were approved during the 27th meeting of the Ministerial Group for Industrial Development, chaired by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el-Wazir. The approved projects include a PVC panel and flooring manufacturing project in New Alamein City, a ready-made garments manufacturing project in New Beni Suef City, and a textile manufacturing project in 10th of Ramadan City. These projects align with the government's aim to promote labor-intensive and low-energy-consuming industries, such as textiles and garments.

Key Takeaways:

  • The Egyptian government has approved three industrial projects worth a total of $138 million, which will create 15,150 jobs.
  • The approved projects include a PVC panel and flooring manufacturing project in New Alamein City, a ready-made garments manufacturing project in New Beni Suef City, and a textile manufacturing project in 10th of Ramadan City.
  • The projects were approved during the 27th meeting of the Ministerial Group for Industrial Development.
  • Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el-Wazir chaired the meeting.
  • The government aims to promote labor-intensive and low-energy-consuming industries, such as textiles and garments, in areas with skilled labor.
  • The Ministry of Industry has launched two integrated textile cities in Minya and Fayoum governorates to absorb the workforce and meet local market needs and export goals.
  • New incentives, including expanding EV charging stations across governorates, were discussed during the meeting.

Statistics:

  • Total investments: $138 million
  • Total jobs created: 15,150
  • Investments in New Alamein City projects: $108 million (PVC panel and flooring)
  • Investments in New Beni Suef City project: $30 million (ready-made garments)
  • Investments in 10th of Ramadan City project: $78.5 million (textiles)
  • Number of jobs created in New Alamein City project: 2,150
  • Number of jobs created in New Beni Suef City project: 9,000
  • Number of jobs created in 10th of Ramadan City project: 4,000

Sources:

  • "Egypt Approves Three Industrial Projects Worth $138 Million, Creates 15,150 Jobs" (State Information Service Egypt)
  • State Information Service Egypt

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