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Badr Investors: Establishing 1,200 factories in the city during the next two years



Engineer Bahaa Al-Adly, head of the Badr Investors Association, said that the association is intensifying its efforts in cooperation with government agencies to connect facilities and issue licenses to speed up the construction of 1,200 factories on an area of ​​800 feddans in Badr City during the next two years, to increase the city's contribution to industrial output and employ more workers, indicating that the structure The city’s infrastructure, especially electricity, is able to absorb the number of new factories, after two new power stations were opened, and the list expanded to permanently solve the electricity crisis.

 

Al-Adly added to Al-Youm Al-Sabea that a number of factories have applied to participate in a decent life initiative to develop the Egyptian countryside, to benefit from the initiative in stimulating factory sales, calling for the necessity to activate the preference for local product in the initiative projects so that the maximum benefit from it can be made for the national industry. At the same time, the informal economy was included in the formal umbrella.

 

The head of the Badr Investors Association stressed the importance of the Decent Life Initiative in revitalizing markets in a large percentage and contributing to a boom in the Egyptian market despite the second wave of the Corona pandemic, and providing more job opportunities, in addition to increasing the production of factories, especially after President Abdel Fattah El-Sisi's directions to rely on Egyptian products in implementing the various projects under the presidential initiative "A Decent Life", in order to localize and encourage the Egyptian industry.

 

Bahaa Al-Adly believes that it is necessary to change the method of incorporating the informal economy into the formal umbrella through encouraging incentives instead of using the method of intimidation by imposing taxes and insurances that push the factories operating in this sector to escape from the official umbrella, which will bring them higher costs without return, proposing to use the initiative of a decent life in annexing Factories of the informal economy by motivating them to register their data to benefit from the initiative.

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