(MENAFN) The memorandum of understanding (MOU) between industrial development authority (IDA) and Singapore holding company (SECC) has been signed to fund an integrated city in Fayoum.
The city will involve industrial projects in various sectors, while the deal was inked between Chairperson of IDA and Chairperson of SECC.
This memorandum will support industrial development and growth, which will contribute to the increase of the national economy.
Furthermore, a mutual firm will be established between both sides in order to take over the installation of the new project.
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