03 December 2020 12:53 PM

State offers unprecedented advantages to young investors: Trade minister

Tuesday، 27 October 2020 - 11:34 AM

 The state offered unprecedented investment incentives and advantages to help young people get their own units in seven recently announced industrial complexes, Trade and Industry Minister Nevine Gamea said on Monday Oct 26.2020.

These benefits were offered as per President Abdel Fattah El Sisi's directives to allow young investors to have their own industrial units and provide them with all needed services to encourage them to establish small and medium sized enterprises, create a new generation of Egyptian industrialists and secure thousands of decent job opportunities, added Gamea, who doubles as Executive Director of the Micro, Small and Medium Enterprises Development Agency (MSMEDA).

Gamea made her remarks during an expanded meeting with representatives of the Federation of Egyptian Industries (FEI) chaired by Mohamed Zaki El Sewedy to review the facilities and investment stimuli offered by the ministry to young investors, such as reducing the price of tender documents from EGP 2000 to EGP 500 and even EGP 300 in some cases.

She said that many investors have been applying for purchasing their units in the industrial complexes located in seven governorates, noting that as many as 900 investors had bought their tender documents since the start of the bidding process on October 13.

MENA

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