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Egyptian free zone exports hit $17.3bn in 2018 - Minister

Egyptian free zone exports hit $17.3bn in 2018 - Minister
The number of projects in the free zones reached 1,090 with $12.1 billion in capital

Cairo – Mubasher: Egypt’s free zones have achieved exports valued at $17.3 billion in 2018, the investment and international cooperation minister said.

Service exports amounted to $7.6 billion last year, rising by $1.2 billion and $2.7 billion from in 2017 and 2016, respectively, Sahar Nasr added in a press release.

The number of projects in the free zones reached 1,090 with $12.1 billion in capital, Nasr highlighted, pointing out that foreign direct investment (FDI) in the zones stood at $2.1 billion and cost of investment amounted to $26 billion.

The projects have offered 192,000 jobs, the minister indicated, adding that almost 15 projects have expanded with $1 billion in investments.

She noted that the country’s free zones have seen 65 new projects at a total cost of $265 million.

This came on the sidelines of the minister’s visit to the Nasr City Public Free Zone on Monday.