PHOTO
Egyptian pound banknotes sit on a table on March 6, 2024 in Cairo, after Egypt's central bank announced it will allow the exchange rate to be set by the market. Egypt's central bank announced on March 6 it will allow the exchange rate to be set by the market, causing the pound to lose more than a third of its value within minutes. Shortly after 12:00 pm (1000 GMT), the Egyptian pound was trading at a record high of 49.15 pounds to the US dollar, after more than a year of a stabilised official exchange rate of around 30.9. (Photo by Khaled DESOUKI / AFP)
Egypt - The General Authority for Investment and Free Zones (GAFI) is planning to launch five private free zones in Greater Cairo within the coming days, an official told Al Arabiya Business.
The launch of the free zones comes in response to the high demand for free zones from investors, the official highlighted.
He added that the new zones do not encompass any of the six zones included in GAFI’s plan for the upcoming year.
The government is set to allocate the private free zones after issuing the related regulations, the official said.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
