Freezone exports reach $ 6 billion in four months

Economy and stock exchange

The government announced the establishment of 7 new free zones in the provinces in order to attract more investors and increase exports and productivity. The plan includes areas in Minya, South Sinai, New Ismailia and craftsmen in Giza, Gamasa in Dakahlia, Aswan and Kafr El Sheikh. 1000 projects, contribute to the provision of about 120 thousand jobs.

The number of projects in the Free Zones exceeded 1095 projects, with capital amounting to 12.5 billion dollars, in addition to 2.15 billion dollars in direct foreign investment and an investment cost of about 26.3 billion dollars. These projects contributed to the provision of 194 thousand jobs, During the first four months of 2019 about 6 billion dollars.

The free zone in Nasr City currently has 211 projects with capital of 3.5 billion dollars, investment costs of 6.8 billion dollars and foreign direct investment of 442 million dollars, and provides about 72.5 thousand jobs.

This came in the framework of continuous follow-up to efforts to develop free zones and infrastructure and equip them according to the latest international systems to contribute to facilitating the system of work and to shorten the time and procedures to facilitate the work of investors.

The automation system aims to link the single project databases between the various regional administrations and to tighten control over projects to prevent any smuggling attempt resulting from repetition of incoming and outgoing messages.