Investments in Free Zones Reached USD 26 bn by End-July: Minister

Investments in Free Zones Reached USD 26 bn by End-July: Minister

The value of total investments pumped in the free zones affiliated to the General Authority for Investment and Free Zones (GAFI) reached USD 26 bn by the end of July 2018, Invest-Gate reports.

The total capital of the operating projects in the free zones stands at USD 11.3 bn, in addition to USD 2.1 bn worth of foreign direct investments (FDIs) recorded, Minister of Investment and International Cooperation Sahar Nasr said in a ministerial statement issued on Thursday, September 6.

The number of operating projects reached 1,093 during the same period, including 889 projects in the public free zones and 204 in the private free zones, Nasr pointed out.

These projects contributed to providing 193,000 job opportunities, while exports of goods and services reached USD 8.9 bn, she added.

Additionally, Nasr noted that the total number of companies established through the branches of the Investor Service Center(s) in Egypt, during the period from February 27 till the end of August, reached 10,339 with a total issued capital of EGP 30.6 bn.

The development of the branches of Investors Services Center(s) is underway in governorates such as Qena, Al Fayoum, Sharm El-Sheikh, Luxor, and Hurghada, in addition to establishing investment zones in Benha and Mit Ghamr, the Egyptian minister said.

Meanwhile, the existing state-run free zones include Alexandria Public Free Zone, Port Said Public Free Zone, Ismailia Public Free Zone, Nasr City Public Free Zone, and Suez Public Free Zone. 


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