Prime Minister Dr. Mostafa Madbouly, met Minister of Investment and International Cooperation Dr. Sahar Nasr, to discuss the ministry's preparations for Africa 2019 Conference scheduled to be held in the new administrative capital under the auspices of President Abdel Fattah El Sisi.
They reviewed the ministry's efforts to develop the free and investment zones to contribute to attracting investments, achieving integrated development in all governorates and providing thousands of job opportunities.
The Minister of Investment and International Cooperation presented the ministry's preparations for Africa 2019 conference which will be held under the theme of "Invest in Africa". The conference will be organized by the Ministry of Investment and International Cooperation in cooperation with the Ministries of Foreign Affairs, Trade and Industry on November 22 and 23 in the new administrative capital.
The conference will be attended by a number of heads of state, prime ministers and ministers from various African countries as well as about 2000 representatives of Egypt's development partners, businessmen, investors and high-level business figures, in order to stimulate investment in the African continent.
Nasr said that this year's conference will be held in the light of President Sisi’s presidency of African union; hence, it will become a platform for mobilizing international institutions and the private sector to invest in Africa.
She pointed out that this year, the conference will focus on the role of women in the framework of "Empowering women in Africa", young entrepreneurs, and will have sessions on renewable energy and information technologies in the continent.
On the other hand, Nasr confirmed that the Ministry of Investment and International Cooperation and the General Authority for Investment and Free Zones, in cooperation with the Small and Medium Enterprises Development Authority, are preparing to launch 497 new projects in the investment areas in Mit Ghamr in Dakahlia, Benha in Qaliubiya and Elsaf in Giza.
The Ministry plans to establish 13 new investment zones in 7 governorates, including 2828 projects that would contribute to providing about 500 thousand direct and indirect job opportunities and attracting investments worth EGP78 billion.
The minister pointed out that there are five investment zones with a capital of 11 billion pounds, these zones have 271 projects, which provided about 350 thousand direct and indirect jobs.
She pointed out that the ministry has completed the development works of the free zone in Nasr City, and is currently working on the development of the other free zones, especially in Alexandria and Port Said.
Nasr pointed out that the free zones produced exports worth 10.1 billion dollars during the first six months of this year. The number of the projects in the free zones is currently about 1090, with a capital of 12.1 billion dollars, in addition to 2.1 billion dollars of foreign direct investment, and investment cost of about 26 billion dollars. These projects contributed to creation of 192 thousand jobs.
“Seven new free zones are under construction in Minya, South Sinai, New Ismailia, El Herafyeen in Giza, Gamasa in Dakahlia, Aswan and Kafr El-Sheikh,” said the minister noting that these seven zones will include more than a thousand project, contributing to the creation of about 120 thousand jobs.
The Prime Minister praised the efforts of the Ministry of Investment and International Cooperation in developing the existing free zones and establishing new investment zones, in accordance with the latest international systems.
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