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Minister of Industry Announces New Industrial Cities
Egyptian Minister of Industry Khaled Heshmat confirmed that the state will soon announce new industrial cities as part of its industrial expansion plan, aimed at supporting economic growth. The plan includes a new mechanism allowing investors to pay a low percentage of just 5% of the industrial land's value, to facilitate liquidity and encourage investments. He also explained that every square meter of industrial land helps reduce imports and increase added value, and that the ministry is in negotiations with major companies to localize automobile manufacturing and boost domestic production.
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