Minister of Industry Khaled Hashem discussed with officials of Turkey’s Polaris plans to expand industrial zones in Egypt and attract new investments.
During a meeting with a delegation headed by Chairman of Polaris Tunç Ozkan, the minister said the state is moving to create a more attractive investment climate through developing infrastructure, providing serviced industrial land, and simplifying procedures to boost industrial production and exports.
The talks reviewed Polaris projects in several industrial cities, including 6th of October City and Sadat City, in addition to plans for a new project in the New Administrative Capital on an area of about two million square meters expected to attract around $2 billion in direct investments.
Hashem stressed the ministry’s commitment to supporting serious industrial developers and overcoming challenges to expand integrated industrial zones and increase the sector’s contribution to the national economy.
He also highlighted the importance of expanding investments in Upper Egypt, citing available incentives, competitive labor costs and land suitable for industrial development.
For his part, Ozkan said the company aims to expand its investments in Egypt and has applied for land in several eastern Cairo industrial cities, including Badr City, Obour City and 10th of Ramadan City, reflecting confidence in the Egyptian economy and its growth potential.
