The General Authority for Investment and Free Zones (GAFI) approved the establishment of three investment zones in Cairo, Qalyubia and 6th of October City, Invest-Gate reports.

GAFI gave a nod to the establishment of a 36-feddan investment zone specialized in the small and medium-sized industries including food industries in Qalyubia, the ministry of investment and international cooperation said in a statement.

The authority also approved two requests submitted by Majid Al Futtaim to establish two investment zones in Mall of Egypt in 6th of October city and City Centre Almaza Mall in Cairo.

Minister of Investment and International Cooperation Sahar Nasr said the ministry aims to attract around USD 10 bn worth of foreign direct investment (FDI) in FY2017-18, the statement added.