Industrial Ministerial Group Reviews Free Zone and Golden Licence Requests to Boost Egypt's Economy

The Industrial Development Ministerial Group, chaired by Deputy Prime Minister Kamel Al-Wazir, reviewed several requests for the establishment of free zones and the issuance of golden licences. The meeting aimed to ensure coordination and decision-making among relevant ministers and authorities, while also attracting foreign and Arab private investment. The group approved several requests, including a partnership between a private sector company and the Misr Helwan Spinning and Weaving Company, as well as a proposal for the establishment of a soda ash production facility in New Alamein with an estimated investment of $640 million.

Key Takeaways:

• The Industrial Development Ministerial Group is responsible for reviewing all requests submitted to the Cabinet regarding the establishment of free zones or the issuance of golden licences.
• The group approved a request for a partnership between a private sector company and the Misr Helwan Spinning and Weaving Company, a subsidiary of the Holding Company for Cotton, Spinning, Weaving, and Clothing.
• The Minister of Industry emphasized the importance of safeguarding state-owned assets, particularly industrial infrastructure, and preserving metal structures and concrete buildings in public sector factories and facilities.
• A subcommittee will be formed to evaluate a proposal for a golden licence to establish a soda ash production facility in New Alamein with an estimated investment of $640 million.
• The Ministry of Industry is working to develop clear technical and engineering standards for assessing the condition of industrial facilities, determining the most effective methods for maintenance and modernization.
• The group also reviewed a study proposing the establishment of an MDF (medium-density fiberboard) production plant using palm fronds, and a golden licence request for an agricultural processing project in Sadat City.
• The meeting concluded with a discussion on the potential for expanding the white sand sector and associated mineral industries.

Statistics:

• Estimated investment for the soda ash production facility in New Alamein: $640 million.
• Annual capacity for the proposed MDF production plant: 100,000 cubic meters.
• Number of palm trees in the South Valley Governorate: over 4 million.
• Number of proposed golden licences reviewed: several, including for the soda ash production facility and an agricultural processing project in Sadat City.
• Percentage of phosphate ore concentration recommended to produce higher-value products: above 25%.

Sources:

• Dailynewsegypt
• Arab Organization for Industrialization
• Ministry of Industry