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Egypt boosts budget for industrial zones

Egyptian foreign trade and industry minister, Mounir Fakhry Abdel-Nour has said the cabinet has decided to increase the EGP400m allocated for 2013/14 to develop infrastructure in industrial zones in the country to EGP3bn ($428m), Ahram has reported. The decision will benefit 36 under-developed industrial zones, scattered across the country's 27 governorates, the minister said. Abdel-Nour said around 3000 new factories will be built in these industrial cities.