Peter Maasakkers

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Cabinet approves major investments in Ras El Hekma

The Egyptian Cabinet has approved the establishment of a private free zone in Ras El Hekma, known as the Ras El Hekma Urban Development Project.

In 2023, the figure of international tourists to Egypt jumped by 27.4 percent hitting 14.9 million, which is the highest in the country's history.

The Ministry of Local Development has set the working hours for restaurants, cafes and bazaars to operate daily from seven in the morning until 11pm.

The recovered piece represents the head of a statue of King Ramses II, which dates back more than 3,400 years.

This zone aims to engage in manufacturing and maintenance of yachts and maritime units, subject to obtaining all necessary licenses and approvals.

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