Officials from the New October City Authority recently welcomed a delegation of Chinese investors to discuss collaboration opportunities and explore potential investments in the city. The visit included an in-depth review of the progress on infrastructure and road developments within the industrial zone, which houses plots allocated to industrial developers.
The visit aligns with the directives of Engineer Sherif El-Sherbiny, Egypt’s Minister of Housing, Utilities, and New Urban Communities, aimed at facilitating investments in new cities. These efforts seek to attract foreign investment, promote industrial growth, reduce reliance on imports, and boost foreign currency reserves while showcasing Egypt’s capacity to meet global industrial requirements.
During the visit, the Head of the New October City Authority provided a comprehensive overview of the infrastructure and road development projects in the industrial zone, which spans approximately 10,000 acres. Highlighting key investment opportunities, he noted that about 7,000 acres have already been allocated for development.
This initiative underscores Egypt’s commitment to fostering a business-friendly environment that supports international collaboration and strengthens its position as a hub for industrial and economic growth.
