Egypt set to establish 12 new investment zones: Minister

MENA , Saturday 9 Nov 2019

Sahar Nasr
File Photo: Minister Sahar Nasr talks during an interview with Reuters in Cairo, Egypt, December 8, 2015. (Reuters)

Minister of Investments and International Cooperation Sahar Nasr said Friday that 12 investment zones were planned to be established.

The new zones are expected to create 500 thousand direct and indirect jobs, and attract investments worth EGP 78 billion, Nasr said while witnessing the signing of a protocol between the General Authority for Investment and Free Zones (GAFI) and the National Bank of Egypt.

The protocol aims at boosting cooperation between GAFI and the National Bank of Egypt in developing the Small and medium-sized enterprises (SME), via a package of services including the finance, and consultancy.

The Investment Ministry also plans to establish seven free zones, which are expected to create around 120 thousand jobs in Minya, South Sinai, New Ismailia, Aswan, Kafr el Sheikh and other places, the minister said. 

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