(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.