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Egypt to create seven new free zones

Tuesday, 14 May 2019 13:29
Egypt to create seven new free zones

(Ecofin Agency) - Egypt will create seven new free zones to attract more investors and boost the country’s exports, the government revealed in a release published on May 12, 2019.

These zones will be created in Al-Minya, South Sinaï, New Ismailia, Giza, Dakahlia, Assouan and Kafr El Sheikh. They should host more than 1,000 industrial projects and generate 120,000 jobs.

Egypt already has nine free zones that have attracted $2.15 billion of foreign direct investments and generated 194,000 jobs.

According to official data, these zones’ exports reached $6 billion in the first four months of 2019.

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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