The Minister of Investment and International Cooperation Sahar Nasr said that the total number of projects operating in the free zone reached 888 projects with a capital of $ 6.8 billion.
Nasr said in a statement on Sunday that investment costs exceeded $ 14.9 billion last June, and contributed to 9.7 percent of the country's non-oil exports at $ 1.44 billion.
This came during a meeting of Prime Minister Mostafa Madbouly to follow up on the position of establishing and developing the Investment & Free Zones within the framework of the government's work program 2021-22.
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Sahr Nasr during her meeting with PM Mostafa Madbouly[/caption]
The projects of the free zones produced an added value to the Gross Domestic Product (GDP) at $ 7.35 billion, representing a strong potential for exports during the fiscal year 2018-19.
The projects contributed to the development of public treasury resources from foreign exchange reserves, deposited in the Central Bank of Egypt (CBE), and helped increase earnings from free zone exports.
"These projects contribute to reducing unemployment by providing more than 103.6 thousand jobs, directly and indirectly," Nasr noted.
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