Arab Finance: The cabinet has approved a draft resolution on the establishment of a free zone in Ras El-Hekma city, dubbed as Ras El-Hekma Project Company for Urban Development, according to a statement.

The cabinet has also nodded to a draft resolution on the establishment of an investment zone in Ras El-Hekma city.

Both agreed-upon draft resolutions cover granting the new company the golden license for the establishment of the free zone and the investment zone, in addition to approving a draft resolution on forming Ras El-Hekma investment zone’s board of directors.

This is along with authorizing the new firm to build an international tourist port in Ras El-Hekma city.

Moreover, the cabinet has endorsed a draft resolution on the financing deal between the government and the French Development Agency (AFD), as well as a European Union (EU) grant, for the third phase of the wastewater treatment project in El-Gabal El-Asfar.

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