By: Economy Middle East

Egypt is planning to establish seven new free investment zones with targeted investments of approximately EGP4.1 trillion (equivalent to $78.9 billion) over the next 20 years. According to a statement issued by the Egyptian Ministry of Investment and Foreign Trade, these zones are expected to attract 214 projects across various sectors, including industry, services, and construction, catering to both local and international markets.

The ministry highlighted that Egypt has already established 12 free investment zones across various regions. To date, these operational sites have successfully attracted 1,277 projects with a combined capital of nearly EGP66 billion, while creating approximately 77,000 jobs.

Government officials emphasized that these zones represent a core element of the national commitment to expanding investment sites, which serve as a strategic system to strengthen the national economy and meet the needs of the investor community.

Work is currently under way to establish the seven new major investment zones across three governorates. The government expects these projects to provide significant momentum to national development and foster a highly attractive investment environment for both local and foreign business interests over the coming two decades.