The Egyptian free zones affiliated to the General Authority for Investment and Free Zones (GAFI) recorded USD 14.7 bn in exports during the first nine months of 2018, an increase of USD 1.1 bn compared to the year-ago period, Invest-Gate reports.

“Projects operating in the free zones currently stand at 1,102 projects, including 898 projects in public free zones while 204 operate in private ones,” Minister of Investment and International Cooperation Sahar Nasr said in a ministerial statement on October 28.

According to Nasr, the capital of these projects reached USD 11.4 bn, in addition to USD 2.15 bn in foreign direct investments (FDIs). They also contributed to providing 200,000 job opportunities.

“The ministry will establish seven free zones that will create 120,000 jobs,” Nasr stated, “They will be built in Minya, South Sinai, New Ismailia, El Herafyeen in Giza, Gamasa in Dakahlia, Aswan, and Kafr El Sheikh.”

In addition, she highlighted that the ministry is working to establish 12 new investment zones in Egypt, anticipated to include about 8,000 projects that will provide 100,000 employment opportunities.