Cairo, Egypt: The Executive Director of the General Authority for Investment and Free Areas and Ismailia Governorate are looking for investment opportunities in the East of the Canal, according to the official statement by General Authority for Investment and Free Areas.
The CEO of the General Authority for Investment and Free Zones for Ismailia Investors stated that online establishment would be held in days, and 22 companies obtained the golden license.
Research was conducted by Hossam Heiba, the executive chairman of the General Authority for Investment and Free Areas, and General Staff of War Sharif Fahmy Bashara, Governor of Ismailia, Investment opportunities in the East of the Canal, and expansion plans in the public free zones and especially in the governorate, in the presence of Engineer Ahmed Essamuddin, Deputy Governor, and Major General Yasser Abbas, Deputy Executive Chairman of the Investor Services Affairs and Free Areas, Engineer Essam Al-Behairi, Chairman of the Free Areas Sector, and Ayman Saleh, Chairman of the Central Administration for the Ismailia Public Free Investment Zone.
Both sides have researched the mechanisms available for investment in the governorate through the partnership between the authority, the governorate, and industrial developers to accelerate land availability and meet the high demand for investment in the province.
Hossam Heiba said that the government is heading to expand the creation of new public free areas under the Industrial Developer system, and the authority is currently looking for a number of proposals submitted by global companies specializing in developing and accompanying public free areas in Ismailia and a number of other governorates close to Egyptian ports.
Additionally, Heiba confirmed the high attractiveness of Ismailia’s investment, thanks to its distinctive location on the Suez Canal, in addition to being the meeting point of the labour-rich Delta governorates and Egyptian ports on the Mediterranean and Red Seas.
Both sides agreed on the necessity of allocating new lands for investment in the governorate, expansion in the public and private free zones in the governorate and updating the data of the governorate investment opportunities on the investment map of Egypt, according to the official update.
Major General Sharif Fahmi Bashara confirmed that the requests for investment lands in the province cover current and future expansions undertaken by the authority.
Following the meeting, Heiba lost the prestige of the business of accompanying the expansions of the general free zone in Ismailia, with an area of 50 acres, in order to absorb a large part of the applications for expansion in the free zone, and he also lost the expansion of companies working in the area.
The executive chairman of the authority announced that he would conduct talks with Ismailia Governorate to accompany another 137 acres next to the free zone under the Industrial Developer system.
Farhan Efram, the general manager of JADE factory, the Turkish company that leads the list of ready-made clothing suppliers in Egypt, announced that the company would finish new expansions on the 20-acre area next January, to provide 2,500 new jobs, in addition to 8,500 existing jobs in the company’s factories.
JAE’s ready-to-wear plant also announced to start off creating expansions on 15 acres; despite the modernization of the first plant, which has not surpassed its first year, it has been able to create 13 ready-wear production lines with Chinese investments, export to European and United States markets.
The company’s new plant will rely more on Egyptian raw materials instead of imported raw materials.
The update further claimed that Dr Khaled Raafat Alian, Chairman of the Board of Spectrum for Diagnostic Medical Industries, researched with Hossam Heiba the creation of an investment zone for diagnostic industries, with small unit spaces suitable for the potential of young investors, especially that the diagnostic industries are linked to many food industries, in addition to the ease of integration and contract partnerships between competing industries in this sector.
The Executive Chairman of the General Authority for Investment praised the lack of the economy of the region’s factories on horizontal expansion, but the interest in technology transfer, deepening industry and increasing the number of production stages within Egypt, which create great opportunities for expanding the establishment of food industries in different economic sectors.
During his meeting with the investors of the Free Zone in Ismailia, Hossam Heiba said that the authority continues its efforts to improve the investment environment and facilitate the services of investors; he announced the launch of the electronic establishment service within days, and the issue of the gold license, which 22 companies have obtained so far, will be expanded.
The golden license is a university license for all the necessary approvals for new projects issued by a special unit of the General Authority for Investment and Free Areas within only 20 working days.
