Egypt plans to build the first complex for small-sized enterprises on an area of 60 feddans in the Suez Canal Economic Zone (SCZone), Invest-Gate reports.

This comes as part of an agreement signed by head of the Suez Canal Economic Zone Ahmed Darwish and Chairman of Investors’ Association for Small- and Medium-sized Enterprises Alaa El Sakty.

“The industrial complex for small-sized enterprises aims to produce local products instead of importing them through providing these enterprises with enough funding, maintenance, machinery, and marketing,” says El Sakty.

A total of 400 feddans in SCZone are currently earmarked for small-sized enterprises, 197 acres of which have facilities, according to a released statement.