Egyptian trade and industry ministry is currently finishing the final plans of developing and upgrading infrastructures of six industrial zones in Sohag and Qena governorates.
Egypt’s minister Tarek Qabil stated Saturday that developing those industrial zones comes as pursuant to World Bank’s Upper Egypt Local Development Programme whose cost is estimated at US$500 million.
Qabil said that there is great coordination between Egyptian ministries of industry, international cooperation, and local development to implement World Bank’s programme that cope with visions and plans of Egypt’s government to develop Upper Egypt within the coming period.
The minister made these remarks during an expanded meeting with WB mission in the attendance of Executive Director of Industrial Modernization Centre (IMC), Ahmed Taha.
The meeting reviewed the latest progress of World Bank’s plan for Upper Egypt Local Development Programme in Qena and Sohag governorates.
During the meeting, all parties discussed current situation of the targeted industrial zones ; four zones in Sohag and two zones in Qena, including their infrastructure and the quality of services provided for investors there, the minister clarified.
Egyptian industry ministry agreed with WB on allocating the necessary fund for upgrading the infrastructures with determining performance indexes and the executive steps of the programme.
The developmental works at the six industrial zones are scheduled to be finished in two years, minister Qabil noted.
The Egyptian ministries and the World Bank discussed the suggested organisational structure to supervise the programme and make use of WB expertise in managing such industrial zones through upgrading basic services provided there.
Moreover, the meeting also determined investment priorities according to the competitiveness of each governorate so as to encourage investors to establish more industrial projects there, minister Qabil added.
