Investments reach $17 billion in Egypt’s free trade zones
Recent statistics reveal that presently the number of companies registered in Egypt’s free trade zones under the national investment law stands at 851 companies.
These companies have an estimated capital of $6 million and total investments equaling $17 billion, reports Al-Quds Al-Arabi daily.
According to Chairman of the Public Authority for Investment and Free Trade Zones, Muhammad Al-Ghamrawi, 587 companies have already begun producing and exporting goods in these zones.
Furthermore, overall capital of these companies is estimated at $4.2 million, while investments reached $9.1 million.
Operations in Egypt's free trade zones are overseen by GAFI (General Authority for Investment and Free Zones). There are currently eight such zones. These include: Nasr City (Cairo), Alexandria, Port Said, Suez, Ismailia, Damietta, Safaga and Sohag. Projects in the zones are exempt from Egyptian taxes and duties. –(MENA Report)
© 2001 Mena Report (www.menareport.com)
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