Free zones’ investors to consider environmental impact: Min

CAIRO – 28 June 2017: Investors in Egypt’s free zones will be obliged to consider the environmental impact of their projects, Minister of Investment Sahar Nasr said in a Wednesday statement.

This comes as part of a wider plan to develop free zones in different governorates and resolve all hurdles facing investors.

Nasr said the development comes to convert free zones into business hubs that can help the country attract more direct investment, issuing orders to cancel days off in these areas.

There are currently 1,109 projects in free zones with $11 billion (LE 198.4 billion) in capital and $26 billion in investment, which created 181,800 job opportunities, head of the free zones directorate at the Ministry of Investment Ahmed Afifi said in the same statement from the ministry.

Egypt’s free zones are divided into nine public zones with 901 projects and $14.9 billion in investment, and 98,300 private free zones with $11.2 billion in investment.