Egypt’s ACUD, UAE’s DP World collaborate to establish free Zone in New Administrative Capital

The MoU was signed between Khaled Abbas, Chairman of the Board of Directors of ACUD and Avnash Iyer, Country Head of DP World Egypt, in the presence of Prime Minister Mostafa Madbouly. 

Abbas noted that the MoU mandates studying developing a free zone on an area of 500 acres within the designated lands for ACUD. He added that technical and economic studies for the project will commence soon, paving the way for signing the final contract and officially establishing the free zone. 

The region targets industrial sectors, including electronics, automotive, fast-moving consumer goods, clothing, and footwear. Abbas stated that this MoU aligns with ACUD's vision of creating diverse points of attraction, optimizing land use, and establishing a fourth-generation industrial city.

For his part, Iyer explained that DP World is currently developing an 84-acre logistics compound in Ain Sokhna.

The UAE has a long history of investments in Egypt, with Emirati investments reaching $30 billion in 2021, as stated by the UAE’s Minister of Cabinet Affairs.

Mariam Khalifa AlKaabi, the UAE Ambassador to Egypt, stated that Egypt can become a commercial and production centre that meets the demands of the European and African markets.