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GAFI, MSMEDA agree to further promote investment in 3 local zones - Daily News Egypt

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GAFI, MSMEDA agree to further promote investment in 3 local zones

GAFI to extend its protocol with CAPMAS to facilitate founding of new firms


The General Authority for Investment and Free Zones (GAFI) along with the Micro, Small and Medium Enterprises Development Agency (MSMEDA) will accelerate their joint efforts to promote investment in three local zones; in Meit Ghamr in Daqahleya, Al-Saff in Giza, and Banha in Qaliubiya, a statement from GAFI said on Monday.

GAFI will shortly offer 107 projects for investors in the field of metal industries in Meit Ghamr, the statement mentioned, noting that the Meit Ghamr’s new projects will create 2,000 job opportunities.

Total 201 projects will be implemented in various fields, including services, industries, and commercial sectors in Al-Saff investment zone, offering 3,500 job opportunities while 187 projects will be implemented in Banha investment zone with expected 3,500 job opportunities, the statement clarified.

This came during the meeting of GAFI’s board of directors held recently in the presence of Minister of Investment and International Cooperation, Sahar Nasr, and Mohamed Abdel Wahab, acting CEO of GAFI.

“There are 13 under-construction investment zones with investments of EGP 78bn and expected 208,000 job opportunities,” Nasr mentioned during the meeting, while Abdel Wahab reassured GAFI’s keenness on facilitating the licensing procedures and eliminating the issues that face the investors in the investment zones.

GAFI’s board of directors agreed to extend its protocol with the Central Agency for Public Mobilization and Statistics (CAPMAS) to conduct a field survey for the new companies nationwide till October 2019, the statement mentioned.

The protocol aims at facilitating the procedures, following up the newly founded firms. and taking the suitable decisions to enhance the business climate for the local and foreign investors, the statement explained.

Nasr also praised CAPMAS’ role in conducting accurate statistics that assist the Egyptian government, civil society, universities, research centers, and international organisations with the needed data about the country.

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