Minister of Trade and Industry Tarek Kabil said that his ministry is now finalising the procedures for offering 13 licensed industrial complexes under the Presidential Initiative for Youth Employment, a ministry statement said on Tuesday.
He added that these complexes will be established in 12 governorates, including nine complexes in Upper Egypt. This includes two complexes in Fayoum, one in Aswan, Luxor, Qena, Sohag, Assiut, Minya, and Beni Suef, as well as four complexes in Red Sea, Alexandria, Gharbiya, and Beheira governorates.
The Industrial Development Authority (IDA) will present these complexes during the first half of this year with a nominal rent using the usufruct system for 50 years to ease the burden on small investors, according to the minister.
The areas of the complexes that will be created range from 50-480 sqm per complex. They will include fields of food, engineering, pharmaceutical, chemical, textile, and building materials, according to the minister.
Kabil also said that the 13 complexes will include 4,436 units with a total cost of EGP 5.4bn, which would create 43,000 direct jobs.
