Egypt: Industrial zones, ports secure $2.8bln contracts in 9 months

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Total contracts signed in the industrial zones and ports reached 127 projects in the period from July 2023 to March 21st, with investments of around $2.8 billion, the General Authority for Suez Canal Economic Zone (SCZone) Waleid Gamal El-Dein stated during a meeting with Prime Minister Mostafa Madbouly.

Gamal El-Dein highlighted that 61 of these projects received final approvals, with foreign investments constituting 49% of their total cost.

The remaining 66 projects obtained initial approval, with foreign investments making up 39% of the total, he added.

A total of 63 new firms have been established at SCZone, with 48.5% in foreign capital during the first nine months of the fiscal year (FY) 2023/2024.

More than 22,000 direct and indirect job opportunities will be made available upon completion of the establishment and operation of these projects.