UAE Plans to Build a Free Zone for SMEs in Suez Canal

Mahmoud Khalil Al-Hashimi, general manager of Ajman Free Zone Authority, said the UAE is one of the countries planning to foray into the Egyptian market, through establishing a free zone for the small and medium enterprises (SMEs) as well as technologies, trade and services, according to Youm7 newspaper.

Al-Hashimi confirmed that an agreement was signed with the General Authority For Investment (GAFI) for exchanging the expertise in the fields of managing the free zones and investing in the establishment of a free zone in Suez Canal.

The agreement also includes providing the joint information support for the implementation of various types of activities in Egypt and the UAE, which enhances the attraction of mutual investment, he added.