Egypt will launch an electronic platform for investors to buy industrial plots soon, amid efforts to promote transparency and fair competition within the sector, while promoting and making use of the available land opportunities, Invest-Gate reports.

The online gateway is bound to allocate and set prices of such plots to potential buyers, excluding land brokers and reducing the chances to buy and hold lands, Prime Minister Mostafa Madbouly said during the cabinet weekly meeting on September 4.

This step comes in line with Egypt’s Industrial Development Strategy, which is aimed at enabling the industrial sector to be the engine of growth through the expansion of exports and job opportunities, Madbouly explained, noting that the country’s industrial development plans will be presented to the Council of Ministers in the coming period.

On August 15, President Abdel-Fattah El-Sisi mandated the launching of a government portal for the unified industrial investment map by September, on the back of the state’s efforts to promote the Egyptian industrial sector as one of the vital pillars of the national economy, according to a previous statement.

The industrial investment map will be Egypt’s first guide for lands and industrial zones, comprising all data related to vacant parcels ready to be tapped as investment opportunities in new cities and governorates.