Total investments of free trade zones hit $ 26 bln by end of July: Investment Minister

MENA and Ahram Online , Thursday 6 Sep 2018

International Cooperation Minister Sahar Nasr	(Al-Ahram)
International Cooperation Minister Sahar Nasr (Al-Ahram)

Egypt's Investment Minister Sahar Nasr said that the total investments of free trade zones managed by the General Authority for Investment & Free Zones (GAFI) hit $ 26 billion at the end of July.

Nasr affirmed that the combined capital reached $ 11.3 billion, in addition to 2.1 billion dollars of foreign direct investments, noting that the projects created about 192,000 jobs.

The minister added that commodity exports reached $4.9 billion, while service exports stood at $4 billion.

The general trade zones of Suez, Ismailia and Alexandria were renovated, highlighting that more zones are being upgraded as the government is keen on directing investments into areas in need of economic growth, particularly Sinai and Upper Egypt.

Nasr added that Investor Service centers are being set up in Qena, Minya and Luxor in Upper Egypt, as well as Fayoum, Ismailia, Sharm el Sheikh, El Wadi El Gadid (New Valley) and Hurghada.

 

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