Egypt is currently establishing seven free zones in Minya, South Sinai, New Ismailia, Giza, Dakahlia, Aswan, and Kafr El-Sheikh, the country’s minister of investment and international cooperation Sahar Nasr said.
The seven free zones will comprise more than 1,000 projects which will create about 120,000 jobs, Nasr added in a statement on Monday.
Accordingly, the number of free zones in the North African nation will be increased to 16 as part of the ministry’s plan to increase the volume of exports and create more jobs, she noted.
The current free zones include about 1,100 projects with a combined capital of $12.8 billion and investments of $26.2 billion, in addition to creating more than 1 million direct and indirect jobs.
During fiscal year 2018/2019, exports of Egypt’s free zones reached $17.8 billion.