Egypt - The agreement was signed on behalf of the ministry by Abdulla Ghanim al-Maadeed, Industrial Development Director, and Hamad Jarallah al-Marri, chief operations officer, on behalf of Manateq, in the presence of Assistant Undersecretaries at MoCI as well as Mohammad Lutfalla al-Emadi, chief executive officer of Manateq.

The Ministry of Commerce and Industry (MoCI) has signed a concession agreement with the Economic Zones Company (Manateq) to manage the small and medium industries zone, as part of strategy to enhance operational efficiency and improve the services provided in the zone without affecting the current conditions of factories and the owners.

The agreement was signed on behalf of the ministry by Abdulla Ghanim al-Maadeed, Industrial Development Director, and Hamad Jarallah al-Marri, chief operations officer, on behalf of Manateq, in the presence of Assistant Undersecretaries at MoCI as well as Mohammad Lutfalla al-Emadi, chief executive officer of Manateq.

The concession pact spans 25 years, renewable, during which Manateq will be responsible for managing and operating the small and medium industries zone.

The company’s duties include preparing and implementing development plans, overseeing their execution, delivering related services, and providing essential infrastructure and facilities while ensuring their maintenance to optimise operational efficiency. It also mandates adherence to designated land uses, approved specifications, and performance standards.

The agreement authorises Manateq to lease and promote lands in the zone for permitted activities and establish procedures for development and operations, subject to MoCI’s approval. The pact also allows Manateq to contract qualified entities to provide required services and to conclude or amend lease agreements with tenants.

The MoCI will maintain complete oversight through its relevant department to ensure that the factories within the small and medium industries zone comply with technical and construction requirements in co-ordination with other stakeholders.

This collaboration reflects the ministry's commitment to providing an advanced investment environment that supports business continuity and meets the needs of manufacturers, contributing to sustainable development and strengthening the industrial sector's competitiveness.

"The signing of this agreement underscores the ministry’s commitment to enhancing the role of small and medium industries as key drivers of economic growth and vital components of industrial diversification," said Saleh Majid al-Khulaifi, Assistant Undersecretary for Industrial Affairs and Business Development at MoCI.

"Through this collaboration, we aim to enhance operational efficiency and create distinguished and integrated investment opportunities that drive innovation and industrial growth to support and develop the national economy," according to al-Emadi.

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