Approving 10 new projects with a capital of $50 million in free
zones during the past two months
With a capital of $75, 10 new projects, which have been set up
at the investment zones, offer 2,950 job opportunities
Mostafa Madbouly, Prime Minister, met today with Counselor Mohamed
Abdel Wahab, GAFI CEO to discuss the progress of a number of private industrial
projects ready for opening, whether in investment or free zones.
During the meeting, Abdel Wahab said that some investors proposed to start
a number of projects during the coming period, including an eye drop factory.
Abdel Wahab pointed out that preparations are underway to hold a business
forum in Hungary in December to review investment opportunities available in
Egypt. He added that preparations are currently being made to present investment
opportunities to Omani investors, in coordination with the Omani ambassador to
Counselor Mohamed Abdel Wahab also referred to his recent meeting with
Tomaso Rodriguez, CEO of Talabat, during which they discussed the company's
plans to increase its investments in the Egyptian market, and to provide innovative
solutions to expand its customer base in Egypt, which is the largest market for the
company's activity in the region.
Furthermore, GAFI CEO mentioned that with regard to the first E-offering of
development clusters, which was announced last October, in the governorates of
North and South Sinai, GAFI received 2,821 reservation requests, and that an
electronic lottery will be conducted to the submitted requests.
10 projects were carried out at the new investment zones in September and
October with a capital of EGP 75 million, offering 2,950 job opportunities, Abdel
He added that GAFI has initially approved 10 projects for establishing new
companies and expanding existing ones at the free zones during September and
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October with capitals amounting to $50 million and investment costs of $148
million. These projects generate 467 job opportunities. Five companies increased
their capital at a total of $10.6 million, while 12 others increased their investment
costs at a total of $111.4 million during the past two months.
At the end of the meeting, GAFI CEO presented to a group of young investors
a number of projects, which he will further discuss in another meeting with them
in the near future.