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Thursday, 9 March 2017

Egypt to open the first public free zone in two months’ time -Khodeir

Egypt plans to launch the first public free trade zone in two months’ time, General Authority for Free Zones and Investments (GAFI) chief Mohamed Khodeir tells Al Borsa. The authority has yet to decide on a location, but is reportedly considering setting up shop in Upper Egypt. Many businesses and investors were concerned by the fact that the new Investment Act — which is expected to come into effect by the end of March — doesn’t bring back private free trade areas. Khodeir reassured members of the Egyptian Credit Association on Wednesday that there are “alternative investment schemes” to the private zones “that offer even greater incentives.

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