Major General Ahmed Suleiman, Head of the Stamps and Scales Department of the Ministry of Supply and Internal Trade, stressed that there is a great presidential interest in the speedy completion of the Gold City project, as it constitutes a qualitative leap in the production and export of Egyptian goldsmiths to global markets, explaining that the city of gold to be established is one of the sides The Egyptian strategy to transform into a regional center for the production and export of gold to global markets, referring to Egypt’s development of an integrative strategy between the projects of the Golden Triangle cities and the new discoveries in the Red Sea Governorate and the new gold refinery project Which the Ministry of Petroleum and Mineral Resources is establishing in the city of Marsa Alam to filter and approve the gold bars produced on the Egyptian lands, in addition to the gold ore coming from the Arab and African markets, so that Egypt becomes the only center in the Middle East and Africa for the collection and refinement of the ore and the production and approval of the bars and the production Goldsmiths and their export.
This came during his meeting with members of the Board of Directors of the General Division of Gold and Jewelery in the General Federation of Chambers of Commerce headed by Eng. Hani Milad Gayed, and in the presence of Eng. Elhamy El-Kardani, Minister of Supply and Responsible for designing the Gold City project.
Suleiman added that Dr. Ali Al-Moselhi, Minister of Supply and Internal Trade, issued a directive to continue consultations and receive proposals from representatives of gold production, manufacturing and trade to modify engineering models in proportion to the realistic requirements of producers.
On the other hand, Al-Hami Al-Kardani said that there are periodic meetings he holds with the General Division of Gold and Jewelery in the Federation of Chambers of Commerce to explain the engineering and logistical details, which will make the new city a distinguished and advanced center for the production of gold and gold works. The requirements of global markets in addition to the accommodations for workers and project owners,
He added that the establishment of the central area for the sale of goldsmiths has been completed within the new administrative capital, which will be an international center for the circulation of Egyptian and global goldsmiths, explaining that commercial units will be launched in that area soon, noting that this area was established along the lines of the heritage architectural style of Cairo markets. The old ones will include areas specialized in selling gold works, an area for selling precious stones and diamonds, and an area for selling silver jewelry.
For his part, Hani Milad said that the establishment of the City of Gold as a free industrial zone, regarding its establishment, is issued a special law that will contribute to the entry of gold ore and diamond stones to the city’s manufacturing areas, which will attract many international investors to pump their investments in the new city, in addition to providing financial and procedural facilities that will constitute an important attractive factor for the local investor. To participate was the most prominent proposals of the members of the General Division for gold to encourage large producers and owners of workshops to move and participate in the new city
For his part, Lotfi Munib, Vice President of the General Division for Gold, said that the Division had submitted a set of proposals for all necessary procedural, legislative and financing incentives, which would contribute to Egypt’s transformation into a regional center for manufacturing, trade and export of this important international industry, especially that global markets are witnessing a rapid development of prices. Gold is also considered a safe haven for governments and individuals in light of international tensions and the decline in indicators of the performance of the global economy.
