Minister of Supply and Internal Trade Ali El Moselhy and Minister of State for Emigration and Egyptian Expatriates’ Affairs Soha Gendi have laid the foundation stone for two logistical and commercial zones in Kafr El-Sheikh governorate.
The two zones, to be established on an area of on 22 feddan, include various businesses, such as half-wholesale trade, packing and packaging, cold and freezing stores, entertainment, social and educational activities, and others.
Minister El Moselhy stated that the logistical zone in Kafr El-Sheikh includes the establishment of commercial, administrative, and logistical businesses with an investment value of EGP 5bn – 6bn.
He added that establishing these zones would contribute to reducing commodity trading circles and limiting waste and waste in the circulation of products, especially since transportation costs represent approximately 10 to 15% of the total final price of a product.
El Moselhy added that the establishment of such logistic and commercial areas and distribution and sales outlets would reduce transportation costs, which is reflected in the final price in favour of consumers.
The government works hard to overcome any obstacles facing investors in the implementation of projects to establish logistical areas, and the expansion of major commercial activities. Moreover, new investment opportunities are offered with complete facilities on top of the project’s land, in addition to assisting in obtaining project licenses.
For his part, First Assistant Minister of Supply and Internal Trade Ibrahim Ashmawy announced that the project to establish logistical, commercial, recreational, social, administrative, educational and service areas in Kafr El-Sheikh provides approximately 20,000 direct and indirect job opportunities as well as these zones comprise commercial businesses, in addition to service and administrative offices, storage yards, hypermarkets, and shopping centers. The project is scheduled to be opened within 36 months.
Ashmawy said that real investment opportunities proposed by the Internal Trade Development Authority over the past five years, which are being implemented on the ground, amount to more than 26 projects with investments exceeding EGP 60bn including logistical areas and mixed-use commercial centers.
Internal trade sector contributes by 22% of the GDP, and this promising sector includes various fields such as wholesale and retail trade, logistics, storage areas, supply chains, food industries and their service activities, as well as manufacturing industries such as sorting, packaging and packaging, and that this sector is the largest economic sector provides job opportunities nationwide, he concluded.
