Council of Ministers: 10 industrial complexes ready to encourage investment in Upper Egypt
The Media Center of the Council of Ministers published infographics on its social media platforms, highlighting the key assets and opportunities for industrial investment in Upper Egypt’s governorates, as well as the infrastructure, logistics, and investment incentives provided by the state, alongside efforts to qualify human resources, thereby enhancing Upper Egypt’s capacity to attract further investments, support the expansion of industrial activities, and create jobs.
The Center clarified that efforts to boost industrial development in Upper Egypt are part of the state’s strategy to achieve balanced and sustainable development across all governorates, maximizing the use of the economic and human assets possessed by Upper Egypt’s governorates. This contributes to transforming the region into an attractive destination for industrial investments, supporting increased production, higher employment rates, and improved living standards.
In this context, the Upper Egypt Development Authority was established in 2018 as a public service body aimed at achieving sustainable development for all Upper Egypt governorates. It has implemented approximately 43 projects, with 20 more currently under implementation.
The infographics highlighted the most promising national assets that enhance Upper Egypt’s attractiveness for local and foreign investments, foremost among them being distinctive logistical infrastructure, including 10 ready-made industrial complexes and several strategic ports, such as Safaga, Hurghada, and Arqain Land Port.
They also pointed to the availability of qualified human resources, given the presence of five technological universities: Benha Technological University, Asyut New Technological University, Fayoum International Technological University, Asyut International Technological University, and Taiba International Technological University.
Regarding investment incentives, the infographics outlined several benefits offered to investors, including a 50% tax deduction on investment costs and a reduced customs duty rate of 2% on machinery and equipment.
The incentives also include customs exemption for molds and production inputs used temporarily before being re-exported, allocation of industrial land at reduced prices or through usufruct rights, with the possibility of exemption for up to 10 years. Additionally, financial support is provided to exporting factories, expedited issuance of licenses, and support for workforce training.
The infographics noted that Upper Egypt governorates have become a new destination for foreign investment, showcasing several prominent examples of global industrial projects located there, including the Samsung Electronics Factory Complex in Beni Suef Governorate, with total investments amounting to $700 million, and the Obelisk Solar Energy Project in Qena Governorate, with total investments of 30 billion Egyptian pounds.
