DT
PT
Subscribe To Print Edition About The Tribune Code Of Ethics Download App Advertise with us Classifieds
search-icon-img
search-icon-img
Advertisement

Egypt to add 4 public free zones by 2026-end to boost exports: GAFI

  • fb
  • twitter
  • whatsapp
  • whatsapp
Advertisement

Cairo [Egypt], August 17 (ANI/WAM): Egypt expects to have four new public free zones ready by the end of 2026 in a bid to expand industrial investment and boost exports, the General Authority for Investment and Free Zones (GAFI) said Sunday.

Advertisement

According to the State Information Service, the decision follows approval on August 11 by the ministerial group for industrial development after occupancy at Egypt's nine existing free zones reached 95%. The new zones will be located in 10th of Ramadan, New October, New Borg El-Arab, and New Alamein.

GAFI CEO Hossam Heiba said production from the new zones will be directed exclusively to exports to help Egypt meet its target of $140 billion in annual exports by 2030. He added that the move aims to avoid competing with domestic producers while promoting fair investment practices and supporting green transition goals.

Advertisement

Heiba said GAFI is working with the New Urban Communities Authority (NUCA) to speed up infrastructure development in the new zones. He also noted that three more free zones are under review, which could bring the total to 16.

Egypt's government has positioned free zones as a key driver of export growth under its investment for exports strategy, designed to attract foreign investors and expand the country's industrial base. (ANI/WAM)

Advertisement

(This content is sourced from a syndicated feed and is published as received. The Tribune assumes no responsibility or liability for its accuracy, completeness, or content.)

Advertisement
Advertisement
Advertisement
tlbr_img1 Classifieds tlbr_img2 Videos tlbr_img3 Premium tlbr_img4 E-Paper tlbr_img5 Shorts