GAFI studies establishing 19 new free and investment zones

The board of the General Authority for Investment (GAFI), under Investment Minister Sahar Nasr, discussed establishing 19 free and investment zones that would provide 220,000 job opportunities.

GAFI also reviewed a number of executive measures that aim at continuing structural and institutional reforms to improve the investment atmosphere.

GAFI is working on establishing seven free zones in Minya, South Sinai, New Ismailia, Giza, Dakahlia, Aswan and Kafr El Sheikh, she said.

These seven zones will include more than 1,000 projects and generate 120,000 jobs, she added.

She pointed out that the Ministry of Investment and GAFI have started mechanizing the official work and linking the databases in the free zones to cut red tape and ease licensing and operation measures for investors.

The board also discussed legislative reforms needed to stimulate investments and further ameliorate the country’s investment climate.