The Investors Association at the 6th of October City has devised a plan to promote manufacturing investments during the first half of 2007. The plan mainly targets Arab investors in Libya, Algeria and Tunisia and other countries in the region.
Head of the association Mohammad Al-Menoufi said that the first promotion round would start in January and would target investors in Kuwait, Qatar and Lebanon. “We will offer business opportunities for manufacturing investors in the Egyptian market, he added.
Manufacturing projects in the 6th of October City amounted to 761 with total investment costs estimated at LE 18 billion and a combined workforce of 70,000 workers.
Al-Menoufi pointed out that the recent promotion round would build on the successful results of a high profile tour, led by Prime Minister Ahmad Nazif, earlier this month to the United Arab Emirates and Kuwait. The prime minister’s visit focused on attracting manufacturing investors to launch projects in Egypt.
He added that the second round would be directed to Libya, Tunisia and Algeria to open up markets for the products of factories in the Egyptian industrial city.
Manufacturers located at the 6th of October City have an annual output of LE 28 billion, making it the largest industrial zone in Egypt.
