GAFI prepares to launch 3 new projects for investors

CAIRO – 31 August 2017: The General Authority for Investment and Free Zones (GAFI) discussed Thursday offering three land plots for investors in Qalyubia’s Benha, Giza’s El-Saf and Dakahlia’s Mit Ghamr, according to an official statement.

In a board of directors’ meeting, attended by Minister of International Cooperation and Investment Sahar Nasr, GAFI’s board said the investment projects will involve building an aluminum factory in Mit Ghamr, refractory materials’ facilities in El-Saf and food industries factory in Benha.

The projects will be launched in partnership with GAFI, allowing it to take a share of the projects’ revenues.

“The new projects will boost the cycle of small- and medium-sized enterprises, increase workforce, provide new job opportunities and attract foreign investments,” the statement read.

Approved by the Parliament in June, the new Investment Law is scheduled to go into force after adopting its executive regulations, aiming to facilitate business procedures and accelerate arbitration of business disputes.

The new law is set to attract much-needed investment to Egypt.