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Wednesday, 3 January 2018

GAFI looks into nine offers for private freezone projects

The General Authority for Freezones and Investment (GAFI) has begun looking into nine offers from Turkish and Saudi investors for private freezone projects with a combined investment value of EGP 3 bn, unnamed government sources tell Al Borsa. The projects span several industries, including spinning and weaving, and readymade garment manufacturing. GAFI had initially received 15 offers, but eliminated six of them for not complying with the requirements for freezone projects stipulated in the Investment Act, according to the sources.

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