El Ghadban pointed out that one of the major challenges facing manufacturing in Port Said is the availability of hard currency.
El Ghadban pointed out that one of the major challenges facing manufacturing in Port Said is the availability of hard currency - File Photo
Port Said Governor, Major General Adel El Ghadban, stated that the investment volume in the industrial zone amounts to approximately 300 billion Egyptian pounds. This cost includes land, machinery, and the ongoing construction of 9 plots, which will significantly contribute to the region.
During a press interview, El Ghadban pointed out that one of the major challenges facing manufacturing in Port Said is the availability of hard currency. However, he highlighted the advantage of the industrial zone's proximity to East Port Said Port, one of the top 10 ports globally, which facilitates swift and smooth transportation of goods.
He also mentioned the presence of 464 factories within the governorate, and the investment volume in Port Said exceeds 6 billion Egyptian pounds across four industrial areas. He emphasized that there are no available lands in the industrial zone.
El Ghadban continued, stating that the governorate has become an attractive investment destination due to the development of new roads and its strategic location, making the land highly valuable. Furthermore, 80% of the Industrial Zone's management consists of businessmen, which means that decision-making processes involve minimal bureaucracy and hesitation.
He further elaborated on ongoing meetings with businessmen to identify their challenges and discuss potential solutions. Eliminating bureaucracy and making decisive actions are key factors for the success of industrial areas, he stressed.
The governor also confirmed that the governorate is currently witnessing a significant leap in the field of factories, boasting high-level manufacturing comparable to international standards. He concluded by mentioning that the products of the industrial zone are exported to European countries.
El Ghadban highlighted that 54% of Egypt's clothing exports are sourced from Port Said. Additionally, he pointed out that there are directives from the political leadership to transform Port Said into an industrial city, and it has already become a leading exporter of denim clothing. He explained that the city houses numerous factories that export their products abroad.
Port Said's thriving industrial zone reflects the Egyptian government's commitment to bolstering the manufacturing sector and attracting investments. With strategic advantages like proximity to major ports and an investor-friendly atmosphere, Port Said has become an appealing destination for local and international businesses alike. The ongoing efforts to streamline decision-making processes and address challenges demonstrate a proactive approach to fostering industrial growth. As the governorate advances in manufacturing excellence, its exports, particularly in the textile industry, contribute significantly to Egypt's economic strength on the global stage.
