The General Authority for Investment and Free Zones (GAFI) will launch three new investment zones, four general free zones, in addition to a specialised free zone in the coming weeks. The statement was declared by Mohsen Adel, GAFI’s chairperson, over his speech on Monday at the Hapi Investment conference titled “The Effective Growth”.
Adel said that the new projects is part of the authority’s plan to cope with the developments taking place in the region, explaining that the three investments areas will be in Mit Ghamri in Daqahleya, and Al Saff in Giza, as well as in Banha with a capacity of 250 feddan, and is planned to provide between 20,000 and 30,000 jobs.
Adel added that the four general free zones will be in Nuweiba, Sharm El Sheikh, Metobas in Kafr El-Sheikh governorate, and the last one which will be in Giza will be allocated for petrochemicals, noting, “we discussed with Korean and Japanese companies to establish branches in that region.”
The specialised free zone will be in Al-Minya on an area of about 1.7m sqm, he mentioned, noting, “The zone will be allocated to textile industries, and the GAFI has held several meetings with the private sector to get the zone operational in July.”
Starting from today, Tuesday, the GAFI will apply the first experience of electronic voting in the general assemblies remotely, Adel said, pointing out that starting from 1 May 2019, the GAFI will not receive any records or papers on the general assemblies and boards of administrations.