Egypt’s PM looks into plans to establish free zones in new cites

Egypt’s Prime Minister, Dr Moustafa Madbouly, held a meeting to discuss possible plans to establish public free zones in 11 different locations in new cities, as per a cabinet statement on Sunday.

The new free zones are aimed to attract foreign direct investment while simultaneously focusing on exporting and enhancing locally manufactured goods.

The Egyptian PM requested to identify places in the new cities that are targeted for development to create the public free zones, with areas of about 150 acres per area in cities such as New Obour, New October, and New Alamein, among many others including cities in Ubber Egypt.

Moreover, the PM emphasized the importance of a clear system of partnership between the New Urban Communities Authority and the General Authority for investment and free zones, both in obligations and division of revenues.

Furthermore, the Minister of Housing, Utilities, and Urban Communities, presented the inventory that had been prepared for the proposed sites for establishing free industrial zones, with 11 sites, noting the planning and construction requirements and the location for connecting facilities to each site.

“We are ready to begin implementing this assignment, according to the partnership system that is agreed upon with the General Authority for Investment and Free Zones” Assem El-Gazzar Minister of Housing, Utilities, and Urban Communities stated during the meeting.