Egypt - The General Authority for Investment and Free Zones (GAFI) has launched six new free zones to attract foreign investments, a move aligned with Egypt’s strategic efforts to boost economic growth, CEO Hossam Heiba told Asharq Business in an interview.

Heiba detailed that the new zones will be located in El Alamein, 6th of October City, Borg El Arab, 10th of Ramadan City, in addition to two zones in the New Administrative Capital and South Sinai.

The expansion of free zones is expected to play a significant role in Egypt’s investment landscape, as the government sets a target to achieve $13 to $15 billion in net foreign investments in the current fiscal year (FY) 2024/2025, up from $11.1 billion recorded in FY 2023/2024.

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