Egypt moves closer to set up 11 free zones to boost economy

Egypt is set to establish 11 free zones across different newly-built cities across the country to boost industrialization and attract foreign investments.

The country’s prime minister Mostafa Madbouly, chaired a special meeting to review progress on the plan and allocate land for the free zones to enhance exports.

These free zones would be roughly 150 acres each in cities like New Obour, New October, New Alamein, and specific cities in Upper Egypt, among others.

The meeting, which was also attended by Egypt’s Minister of Housing, Utilities, and Urban Communities Assem El-Gazzar, focused on the state’s support and eagerness to attract new investments. 

The Egyptian premier underlined that the main goal is to quickly provide ready industrial land, specifically for projects that export their products abroad.