Egypt studies building 3 new free zones

Ahram Online , Sunday 16 Jul 2023

Egypt's Prime Minister, Mostafa Madbouly, announced during a meeting with Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), that the government is considering building three new free zones.

Prime Minister Mostafa Madbouly, GAFI s CEO Hossam Heiba. Cabinet.
Prime Minister Mostafa Madbouly, GAFI s CEO Hossam Heiba. Cabinet.

 

New free zones are planned to be established in Alexandria, the 10th of Ramadan, and the 6th of October cities, according to a statement released on Sunday.

Madbouly reviewed the latest progress on companies applying for or receiving gold licenses during his meeting with GAFI's CEO.

In July, the Egyptian government simplified the conditions for issuing licenses for private free zone projects by approving amendments to the investment law.

Egypt's new facilities for Investors

To boost Foreign direct investments and private investments in Egypt, the Supreme Council for Investment issued 22 decrees in mid-May.

Proposals for legislative amendments are among the decrees presented by the Supreme Council for Investment, which will soon be presented to Parliament for voting.

Short link: