Further, the Minister pointed out that MIIC could finance several development projects within the framework of the Sinai Development Program in the governorate.
Nasr ascertained that MIIC was keen on securing funds to SMEs in the governorate, adding that they were determined to establish a free public zone in Nuweiba.
The new Investment Law provided for the development of one investment map for Egypt including all investment opportunities nationwide, the Minister pointed out, noting that MIIC established a unit for following up and solving investors problems.
The Minister inspected the Middle Road Establishment Project for which MIIC secured EGP 275 million and implemented by the Armed Forces Engineering Authority.
Nabila Makram at MIIC premises, where the latter proposed the establishment of an Egyptian expatriate office in the Investors Service Center (ISC).
Nasr indicated that MIIC aimed to facilitate procedures for those wishing to invest in Egypt, including Egyptian expatriates, noting that she would establish an Egyptian expatriate office in ISC as she decided to set up a Business Facilitation Office for Businesswomen.
The Minister indicated that the Investment Law provided for supporting youth projects, while referring to MIICs interest in supporting youth who account for 50% of Egypts population.
He added that MIICs and EAEFs investments in entrepreneurship reflected their commitment to supporting Egyptian talents and providing capitals for Egyptian startups.
As mentioned by the Minister, MIIC aimed to support entrepreneurs to develop their skills, provide an adequate environment for rendering their projects successful, help them choose an adequate labor market, improve their business and increase startups, and provide administrative support, legal consultations and trainings.
Sahar Nasr chaired a meeting of the General Authority for Investments (GAFI) Board of Directors at MIIC
The Minister emphasized that MIIC worked on implementing finance programs and encouraging SMEs in Upper Egypt, given that MIIC gave top priority to the achievement of inclusive and sustainable development, especially in lagging governorates.
The Minister pointed out that half of the finance portfolio and grants secured by MIIC through development partners is directed to finance projects in Upper Egypt worth USD 10 billion in the sectors of housing, transportation, electricity, energy, health and education.