Egypt’s free zone exports record $6 billion in four months – minister

Egyptian free zone’s exports reached $6 billion during the first four months of 2019, Investment Minister said on Sunday.

The number of projects implemented in the Egyptian free zones reached 1,095 with capital worth $12.5 billion, Sahar Nasr added in a statement.

These projects were established with an investment cost of around $26.3 billion, along with foreign direct investment (FDI) of $2.15 billion, which created nearly 194,000 jobs, the minister noted.

In addition, a total of seven free zones are being established in the governorates of Minya, South Sinai, New Ismailia, Giza, Dakahlia, Aswan, and Kafr El-Sheikh in a bid to attract more investors and boost exports and production, Nasr revealed.

The new free zones are expected to comprise more than 1,000 projects and create about 120,000 jobs, she added.