The Egyptian Minister of Industry and Technology Development, Ali Al-Saeidy, said that investors submitted 1,330 manufacturing project applications to the General Manufacturing Authority in 2001, reported Al-Ahram . These investors have received an initial approval from the authority. Out of the 1,330 project applications, 252 are located in new cities and 1,078 will be base in various Egyptian districts. Total investments into these projects, some of which will start production in the near future, are estimated at 5.2 billion Egyptian Pounds ($1.1 billion). The projects are expected to create 34,884 jobs providing annual salaries of EP 229 million. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
