70 percent of Qaliubiya investment zone allocated to SMEs: Minister

CAIRO - 25 December 2017: Around 70 percent of Qaliubiya investment zone will be allocated to small and medium enterprises (SMEs), with the rest to be used for megaprojects, Minister of Investment, Sahar Nasr, said Monday.

In a visit to the site of the investment zone, Nasr called on investors to pump their money in projects that will serve the interests of the community in Qaliubiya.

The General Authority for Investment and Free Zones (GAFI) approved in August establishing three investment zones in Sharm El-Sheikh, Qaliubiya and Nuweiba.

Governor of Qaliubiya, Mahmoud Ashmawy, previously said in a statement released by the Ministry that there is a plan to develop Qanater Barrages that include building a number of tourist projects, including hotels and gardens.

The plan includes establishing lakes and an amusement park, in addition to introducing new transportation means.

These projects will lie nearby new Benha-Shoubra al-Kheima road.