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Ministry of trade studies launching Syrian industrial zone in Egypt

Tuesday 04-04-2017 - 11:45 PM
Al-Bawaba

The Ministry of Trade and Industry announced the government intention to establish an integrated industrial zone for Syrian industrialists in Egypt.

The ministry aims to increase the amount of investments of Syrian industrialists in Egypt, which is estimated at $23bn.

In a statement released on Tuesday, the ministry of trade said that a study is underway to establish an industrial zone of Syria for fabric and textile industries on an area of about 500,000 square meters.

“This comes within the framework of the Ministry’s ambitious plan to encourage the establishment of industrial clusters that are specialized for each industry chain of workshops in order to deepen the industry and increase its added value,” the statement read.

A few days ago, Minister of Trade Tarek Kabil has met with the Syrian businessmen group in Egypt, where they discussed ways to boost Syrian investments and attract more Syrian companies to Egypt during the coming period.

The two sides agreed on the establishment of the proposed Syrian industrial zone in 10th of Ramadan City. The new project would include 70-80 Syrian companies, which are already working in Egypt, in various sectors, including textiles, food, and pharmaceuticals. The project would include administrative and commercial buildings, as well as a special area allocated to marketing and exhibition, in addition to a fire department and a healthcare center.

The Syrian side is supposed to submit detailed studies on the number of factories and their activities, and then the ministry will review these studies to implement the project as soon as possible.

The ministry of trade said that a delegation from the Egyptian Chambers of Commerce headed by Ahmed Al-Wakil will visit Syria in April to enhance economic and investment with Syria during the coming period.

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