Planning Minister Discusses Tarboul Industrial City Achievements with Chairman

Dr. Hala El Said, Minister of Planning and Economic Development, held a meeting with Mr. Sherif Hamouda, Chairman of the Board of Directors of Tarboul Industrial City, in the presence of Ayman Suleiman, Executive Director of the Egyptian Sovereign Fund, and legal advisor Mohamed Abazid, the legal advisor to the Minister of Planning, and Kamal Nasr, the Minister’s Assistant for Technical Office Affairs, and Wael Ziyada, the Minister’s Assistant for Economic and Investment Affairs.

At the beginning of the meeting, Mr. Sherif Hamouda and the team from Tarboul Industrial City reviewed the most important achievements in the establishment of the city during the past year, with the number of factories to be opened in the city reaching 1500, and the launch of the “Make” initiative to support small and medium-sized project owners through easy financing for factory owners, benefiting 2800 factories, with a target of reaching 10,000 factories during the current year.

They also reviewed green hydrogen projects implemented through several international alliances with investments reaching $15 billion.

Hamouda also presented a proposal regarding the localization of electric car industry in partnership with the Russian Lada company and the Chinese FAW company.

Dr. Hala El Said praised what has been achieved in Tarboul City during the past year, confirming that Tarboul represents a clear achievement of the state’s goals of the structural reform program, which aims to deepen partnership with the private sector and focuses on the real economy by increasing the size of industry, agriculture, and information technology in the national output.

The Minister of Planning and Economic Development also directed to develop a concept for building a partnership between the Egyptian Sovereign Fund and subsidiary funds, Tarboul City, and to expand initiatives to support industry and small and medium-sized projects.

She also directed to study the areas of cooperation in the green hydrogen projects file between the Sovereign Fund and Tarboul Industrial City.