GAFI agrees to es­tab­lish 3 in­vest­ment zones in Greater Cairo

The author­ity ap­proved Ma­jid Al Fut­taim Prop­er­ties to es­tab­lish two in­vest­ment zones in Mall of Egypt and City Cen­tre Al­maza Mall

The Daily News Egypt - - Business - By Mo­hamed Ayyad

The Gen­eral Author­ity for In­vest­ment and Free Zones (GAFI) ap­proved the es­tab­lish­ment of three in­vest­ment zones in Cairo, Qa­lyu­bia and 6th of Oc­to­ber City, dur­ing the author­ity’s board of direc­tors’ third meet­ing un­der the chair­man­ship of Min­is­ter of In­vest­ment and In­ter­na­tional Co­op­er­a­tion Sa­har Nasr.

Ac­cord­ing to a state­ment re­leased by the min­istry of in­vest­ment on Wednesday, GAFI ap­proved the es­tab­lish­ment of an in­vest­ment zone spe­cialised in the small and medium-sized in­dus­tries in­clud­ing food in­dus­tries on an area of 36 fed­dans in Qa­lyu­bia.

The author­ity also ap­proved two ap­pli­ca­tions sub­mit­ted by Ma­jid Al Fut­taim Real Es­tate Com­pany to es­tab­lish two in­vest­ment ar­eas: the first one will be on an area of 399,400 square me­tres in Misr Mall in the 6th of Oc­to­ber City, while the sec­ond one will be built on an area of 123,700 square me­tres at City Cen­tre Al­maza Mall in Cairo.

The com­pany aims to es­tab­lish in­vest­ment projects in both re­gions, in­clud­ing shops for the best in­ter­na­tional and lo­cal brands, and the largest fam­ily en­ter­tain­ment cen­tre, ac­cord­ing to the state­ment.

The meet­ing also dis­cussed the mea­sures adopted by the min­istry of in­vest­ment to de­velop its in­vestor ser­vice cen­tre. The devel­op­ment process will in­clude build­ing an ex­ten­sion fro the main build­ing, con­sist­ing of a re­cep­tion hall and a pri­vate VIP hall.

Sa­har Nasr pointed out that her min­istry tar­gets about $10bn worth of for­eign di­rect in­vest­ment (FDI) in the fis­cal year 2017/2018, stress­ing that she is work­ing to fa­cil­i­tate all pro­ce­dures for in­vestors and re­move any ob­sta­cles fac­ing them. She also as­serted her keen­ness to sup­port small and medium-sized en­ter­prises, and en­trepreneur­ship ini­tia­tives, as well as the es­tab­lish­ment of free zones in all gov­er­norates of Egypt.

The board of direc­tors of the Gen­eral Author­ity for In­vest­ment and Free Zones (GAFI) with Min­is­ter of In­vest­ment and In­ter­na­tional Co­op­er­a­tion Sa­har Nasr

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