General Authority for Investment and Free Zones (GAFI) chief yesterday Hossam Heiba held an expanded meeting with the Investors Association of the Alexandria Public Free Zone.
Discussions focused on plans to upgrade Alexandria Free Zone to keep apace with increasing requirements of industry.
A GAFI statement said the authority has started implementing decisions by the Supreme Council for Investments, under President Abdel Fattah El Sisi, to support investors.
The government will continue to support investors, the GAFI chairman said, highlighting the state’s new package of investment incentives.
More incentives for each sector will be announced separately soon, Heiba said.
Meanwhile, the Investors Association of the Alexandria Public Free Zone called for a new free zone near Alexandria since the existing zone has reached full capacity.
The association also requested setting maximum for surface area, labour or capital per investor.
According to a GAFI press statement, Egypt has nine free zones in Amireya, Nasr City (Cairo), Port Said, Suez, Ismailiyah, Damietta, Shebin el-Kom (Menoufiya), Qeft (Qen) and Media Production City (MPC, 6 October City).
Alexandria’s free zone is the biggest with 342 enterprises worth a total $11.5 billion, creating 84,000 jobs.