The General Authority for Investment and Free Zones (GAFI) is currently studying the establishment of 12 new investment zones in a number of governorates in Egypt, Invest-Gate reports.

The new zones include four in Cairo, two in Qalyubia, and one in each of Sharqia, Alexandria, Fayoum, Giza, Dakahalia, and Damietta, Minister of Investment and Internation Cooperation Sahar Nasr said during a meeting held on March 6.

Nasr highlighted that the zones will comprise projects in the fields of logistics, nano and bio-technology, higher education, scientific research, and small and medium-sized enterprises (SMEs), in addition to crafts and furniture, according to a recent ministerial statement.

The new free zones will provide around 208,000 job opportunities and will attract investments worth EGP 78 bn, she confirmed.

Meanwhile, GAFI aims to establish six investment zones in the near future in areas such as Suez, Qalyubia, Aswan, Luxor, and Cairo, with investments worth EGP 70 bn, Nasr noted.

In addition, the minister underlined that GAFI has already developed five investment zones in Giza and Sharqia, which encompass a total of 259 projects, employing 59,000 workers, with investments worth EGP 11 bn.