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Arab Finance: The Egyptian government is establishing seven investment zones to accommodate 214 projects with a total investment of EGP 4.11 trillion over 20 years, Minister of Investment and Foreign Trade Mohamed Farid said.
In his meeting with Prime Minister Mostafa Madbouly, Farid noted that these investment zones are under construction in three governorates and are expected to create around 1.2 million jobs.
Egypt currently hosts 12 existing investment zones across six governorates with investments totaling EGP 66.3 billion. These zones include 1,277 projects and provide about 77,500 job opportunities.
During the meeting, Farid outlined the progress of implementing the pilot phase of the electronic platform for investment zones under the ministry’s strategy to accelerate digital transformation.
The government aims to provide a unified digital gateway to serve investors within investment zones, with the ability to track applications electronically.
Furthermore, the ministry launched a promotional campaign to raise awareness of investment zones as an investment system that provides an integrated working environment for investors.
Farid also briefed Madbouly on the outcomes of his chairmanship of the Egyptian-Belarusian Joint Committee, affirming Belarus' interest in expanding cooperation in the machinery, heavy equipment, and vehicle industries, as well as the food processing sector.
