Nasr: 1,090 projects implemented in free zones with capital of $12.5 bn

Investment and International Cooperation Minister Sahar Nasr said the number of projects that have been implemented in the free zones reached 1,090, with capital worth $12.5 billion and foreign direct investment of $2.15 billion.

The investment cost of these ventures hit about $26.2 billion, she noted.

During the minister’s inspection tour of Nasr City Free Zone, the minister said that these projects have contributed to providing 192,000 job opportunities, adding that commodity and service exports increased by 38% compared with January, said a statement by the ministry.

Nasr pointed out that the ministry is working to establish seven new free zones in governorates to lure more investments and beef up exports and production.

Nasr City Free Zone is currently grouping 211 projects with a capital worth $3.5 billion and investment cost of $6.8 billion and foreign direct investment estimated at $442 million.

Source: State Information Service Egypt