The Cabinet approved on Wednesday several decisions, including a request to establish a new investment zone covering approximately 13.13 feddans south of the coastal road in New Alamein City, Matrouh Governorate.
The zone will be allocated for the establishment of a multi-purpose project (commercial, administrative, hotel, sports, entertainment, logistics), with a license granted to a specialized company to develop and manage it.
During a meeting under Prime Minister Moustafa Madboli, the Cabinet also approved a draft presidential decree allocating a plot of land at 315.37 feddans, state-owned property located in el Matahra area, Minya Governorate, in favor of the Industrial Development Authority (IDA), to be used for industrial activities.
The Cabinet further approved the cancellation of Cabinet Decision No. 9 of 2018 regarding the establishment of a public free zone in el Matahra East of the Nile, Minya Governorate.
In addition, the Cabinet approved the Red Sea Governorate’s allocation of a 1,000-square-meter plot of land in Hurghada City to a specialized company in car sales and maintenance.
The land will be used to establish a showroom, a car service center, and a training and qualification center for technical education students.
During the meeting, the Cabinet also approved completing the necessary contractual and executive procedures to conclude a new usufruct agreement between the Egypt Expo & Convention Authority (EECA) and the Micro, Small and Medium Enterprise Development Agency (MSMEDA) for the permanent exhibition building of MSMEDA at the Nasr City Fairgrounds.
The agreement will run for 25 years, from 1 September 2025 until 31 August 2050.
The Cabinet was also briefed on the annual report and final accounts of the National Organization for Social Insurance (NOSI) for the fiscal year ending 30 June 2025, as well as the NOSI’s investment report and performance indicators for the period from 1 July 2024 to 30 June 2025.
Moreover, the Cabinet approved a draft presidential decree to reallocate several plots of state-owned land in a number of governorates in favor of the Future of Egypt Authority for Sustainable Development, to be used in the establishment and implementation of various development activities and projects.
