Trade min. reveals investment plan for Upper Egypt

The Trade and Industry Ministry has drawn up an investment plan to define the most important industrial sectors and the available investment opportunities before submitting it to investors, Minister Tareq Qabil has told MENA.

The government pays great attention to the development of Upper Egypt as evidenced by its endeavor to lure more investments there during the coming period, Qabil said.

He made the remarks during a press conference held on Thursday to review the Ministry’s strategy on the Upper Egypt’s development. 

The recent decisions issued by the Supreme Investment Council will contribute to attracting investments to the Upper Egypt, Qabil added.

The Supreme Investment Council’s decisions included putting forward industrial lands to investors for free and exempting investors in the industrial and agriculture domains from tax on profits for a period of 5 years. 

Schools for vocational education are being built in Upper Egypt, the minister asserted, citing the 500-million-dollar loan offered by the World Bank for the development of Upper Egypt.