Egypt’s General Authority for Investment and Free Zones’ (GAFI) board has approved tendering 107 new metallurgy projects in Mit Ghamr Investment Zone, Dakahlia Governorate, providing about 2,000 new job opportunities, Invest-Gate reports.
The approval came during a meeting held by GAFI’s board on August 5, where Minister of Investment and Cooperation Sahar Nasr emphasized that Egyptian investment zones are being established within an integrated development system, which allows the developer to improve, promote, and maintain all projects in these areas, according to a recent ministerial statement.
During the meeting, the minister highlighted the importance of putting the cooperation protocol signed between GAFI and the Micro, Small, and Medium Enterprises Development Agency (MSMEDA) into effect, as it relates to managing and developing investment zones that are under the supervision of GAFI in Giza (Al-Saff Investment Zone) and Dakahlia (Mit Ghamr Investment Zone), which should help in putting forth about 7,000 new job opportunities through 399 projects.
“A total of 13 investment zones are under construction across Egypt, including seven zones operated by GAFI and others by the private sector, in addition to another six investment projects owned by governmental bodies and are under GAFI’s supervision. These zones are set to provide about 208,000 new job offerings, while luring further investments worth around EGP 78 bn,” Nasr noted, calling on potential investors to launch additional developments in the areas.
On July 22, Prime Minister Mostafa Madbouly mandated the establishment of a specialized investment area, covering 15,029 square meters in the Delta city of Benha, Qalyubia Governorate. The decree stipulates that GAFI will be authorized to build the new investment zone, while concurrently developing a number of specialized small-scale industries, according to a recent ministerial statement.