Egypt to set 4 eco-friendly investment zones, with investments of LE 5B

The General Authority for Investment and Free Zones (GAFI) has set an ambitious goal of establishing four investment zones focused on environmental sustainability by 2030, with a total investment of LE 5 billion, as revealed by the Head of the New Investment Zones Division at GAFI, Marwa Fayek.

 

This initiative is expected to create 759 investment opportunities and generate approximately 10,000 job openings.

 

Egypt is also planning to expand its public free zones by doubling the number of cities by adding 11 new locations over the upcoming two years, according to an official from the Urban Communities Authority.

 

Furthermore, the government will designate four new public free zones in 2024, namely in the areas of the 10th of Ramadan, New October, New Alamein, and Burj Al Arab.

 

CEO of GAFI, Hossam Heiba, has emphasized the active collaboration between GAFI and the Ministry of Finance to establish definitive criteria for private free zones.

 

 These zones aim to facilitate exports to foreign markets while allocating approximately 20 percent of production to the domestic market.

 

In Egypt, free zones are divided into two categories: public and private. The public zone comprises various investment projects, with the government being responsible for establishing the necessary infrastructure.