Egypt’s Ministry of Investment and International Cooperation has officially rolled out El Saf Investment Zone, Banha, offering a total of 225 fully-finished and serviced projects, Invest-Gate reports.
The newly-introduced developments range in sizes from 30 to 300 square meters each, including 204 handicraft units and 21 exhibitions. All the required licenses and approvals are yet to be issued by the General Authority of Investment and Free Zones (GAFI), according to a ministerial statement on December 17.
With all properties offered under the usufruct scheme for a renewable 15-year period, the deadline for application submissions is 15 January 2020, which are set to be presented online through the ministry’s website (www.investinegypt.gov.eg) or through the investor service centers, the statement noted.
Currently, the Small and Medium Enterprises Development Authority (SMEDA) is providing funds of up to EGP 10 mn to entrepreneurs, aiming to help them purchase resources or sustain working capital, allowing for repayments over six years with a one-year grace period.
Last August, GAFI tendered 107 new metallurgy projects in Mit Ghamr Investment Zone, Dakahlia Governorate, with areas varying between 144 to 576 square meters per unit, featured fully-finished and equipped with water, electricity, and sanitation utilities. The additions are set to create about 2,000 jobs, according to an earlier official statement.
Back then, Minister of Investment and International Cooperation Sahar Nasr pointed out that the new facilities are aimed at attracting more investments to Mit Ghamr Investment Zone, focusing on various industrial fields as well as small- and medium-sized projects, as a part of the ministry’s plans to develop and establish numerous investment zones, which are key on the state’s agenda.
