Egypt mulls plans to establish three new free Zones

Egypt is considering building three new Free Zones, Prime Minister Mostafa Madbouly announced Sunday to Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI).
The future Zones, Madbouly’s office indicated in a statement, will be Alexandria, the 10th of Ramadan, and the 6th of October cities.
The office also indicated that the Premier reviewed the latest progress on companies applying for or receiving gold licenses during his meeting with GAFI’s CEO.
The North African country in July simplified the conditions for issuing licenses for private free zone projects by approving amendments to the investment law.
The country currently has 9 public-free zones.
The building of the three new Free Zones is in line with authorities’ plans to attract foreign direct investments and private investments. To attract these investments, the Supreme Council for Investment issued 22 decrees in mid-May.