Nuran AbdulMonim
Prime Minister Mostafa Madbouli chaired on Sunday 28/7/2019 a meeting with Investment Minister Sahar Nasr and other officials, where they discussed the latest developments made in establishing free and investment zones in various governorates.
The free-zones project is part of the government’s program in 2018, 2019, 2020, and 2021.
Investments in free zones usually enjoy some incentives and privileges, including the exemption of exports and project’s imports from customs, taxes, along with the freedom of fund repatriation, Nasr said.
Also, EGP 3 billion have been allocated to develop the existing free zones in nine areas, including Alexandria, Nasr City, Port Said, Ismailia, Damietta, Suez and others, she added.
The existing free zones have 1,090 projects; with capitals reach 12.8 billion dollars, and investments worth 26.2 billion dollars. These projects offer around 194,000 direct job opportunities.
