The Egyptian government plans to spend EGP 5 bn on 13 new industrial zones in FY 2020/21, Invest-Gate reports.
The zones are located in Assiut, Alexandria, Luxor, Beheira, Gharbia, Fayoum, and other governorates, Egypt’s Planning and Economic Development Minister Hala El-Saeed said in a statement on April 5.
The government also targets to provide EGP 6.4 bn worth of financing for 300,000 small and medium enterprises (SMEs) in the upcoming fiscal year.
In later March, the Egyptian Finance Ministry said that the government’s overall spending will reach EGP 1.71 trn during FY 2020/21, a rise of 9% from the EGP 1.57 trn allocated for the current fiscal year.
