Investment projects in Egypt's free zones receive rent discount

Published August 23rd, 2001 - 02:00 GMT

Rent rates for land investment project in the Domiat and Ismailia Free Zones will drop by some by 50 percent to $3.5 Egyptian pounds per square meter, according to Al-Gomhuria daily.  

 

To receive these and other investment incentives, stated the Chief Executive of the Egyptian Investment and Free Zones Public Authority Mohammed Ghamrawy, a company operating in the zones must export 50 percent of its output to foreign markets. 

 

Ghamrawy added that any operating warehousing project in these zones has to export all of its output.  

 

The General Authority for Investment and Free Zones (GAFI) is the primary governmental authority which regulates and facilitates investments in the Free Zones. 

 

There are currently eight such zones: 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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