12 June, 2019

Egypt to launch seven new industrial zones

Three investment zones and four free zones to be launched by end-June

Image used for illustrative purpose. Worker watching forklift truck carrying alumninium ingots in warehouse

Image used for illustrative purpose. Worker watching forklift truck carrying alumninium ingots in warehouse

Getty Images/ Monty Rakusen

12 June 2019
Egypt is planning to launch a total of seven new industrial zones consisting of three investment zones and four free zones by the end of June, a top government official has said.

Mohsen Adel, CEO, General Authority for Investment and Free Zones (GAFI) told Thomson Reuters Projects last week that the investment zones in El Saff in Giza governorate, Benha in Qalyubia governorate and Mit Ghamr in Dakahlia governorate would focus on small and medium enterprises, food processing, and aluminium industries respectively.

He said the free zones in Metobas in Kafr El-Sheikh governorate, Al Herafieen in Giza governorate, and in Aswan and Minya governorates would focus on petrochemicals, electronics, mining and textile industries respectively.

Currently, there are 17 investment zones and nine free zones in Egypt, according to information posted by the Ministry of Investment and International Cooperation (MIIC). Investment zones differ from free zones in that the former are not eligible for incentives and tax/custom exemptions enjoyed by the latter, according to HSBC's Doing Business in Egypt 2016 report.

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)


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