Egypt to launch 12 investments zones to attract EGP 78bn

Egypt is planning to build 12 new investments zones that are expected to create 500,000 jobs and attract 78 billion Egyptian pounds investments, according to Egyptian investment Minister Sahar Nasr.

There are five investment zones in Egypt that include 271 projects with total capitals of  11 billion pounds, Nasr noted, adding that these projects have created 350,000 jobs.

The Ministry of Investment aims to attract investments and exploit incentives provided by law to develop the most deprived areas through new projects and investments, Nasr revealed.

The minister said that there are nine free zones operating in Egypt, while other seven are under construction in Nuweibaa, Aswan, Minya, Giza, Tenth of Ramadan, Kafr El-Shaikh, and East Port Said.