New Investor Service Centers, Free Zones in Prospect Nationwide: Investment MinisterSource: www.export-egypt.com 12/8/2019, Location: Africa |
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The Ministry of Investment and International Cooperation is moving forward at a fast pace to establish new investor service centers and free zones at all state governorates, Investment and International Cooperation Minister Sahar Nasr said.
Nasr made her remarks during a workshop organized by the Ministry of Local Development to review the core functions of governors as well as the legal frameworks and policies regulating these functions as stipulated by Egypt's local administration law. The ministry is working on several projects in various state governorates, providing the funds necessary to meet development needs in cooperation with relevant state bodies, Nasr said. The minister applauded the groundbreaking measures the state has been taking to provide an investment friendly environment, including a legislative reform, which led to the adoption of Egypt's new investment and financial leasing laws, and the launch of Egypt's investment plan, an online plan providing nearly 3000 untapped investment opportunities. She added as many as 18 investor service centers are being established and upgraded nationwide to streamline investment procedures and cut red tape. In addition to the nine public free zones available, new zones are also under construction in Nuweibaa, Aswan, Minya, Giza,10th of Ramadan City, Kafr El Sheikh and eastern Port Said, increasing the number of free zones to 16 nationwide, Nasr noted. A host of state governors attended the workshop along with Local Development Minister Mahmoud Shaarawy and Vice CEO of the General Authority for Investment and Free Zones, Mohamed Ahmed Abd el-Wahab. |
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