Arab Finance: Egypt is preparing to double the number of public free zones, by adding 11 new cities during the current and next year, an official in the New Urban Communities Authority (NUCA) told Asharq Business.

The government will start allocating four new public zones this year in the cities of 10^th of Ramadan, New October, New Alamien, Borg El-Arab, the official said.

He also added that the remaining zones will be allocated gradually as of 2025, to include Capital Gardens, New Tiba, New Aswan, New Beni Suef, New Sohag, and New Obour.

The NUCA and the General Authority for Investment and Free Zones (GAFI) have recently obtained two free zones in Aswan and Nuweiba, the official revealed, pointing out that both zones are currently being supplied with utilities to commence operation by mid-2025.

There are currently nine public free zones in Egypt, contributing approximately 25% to the country's total annual export volume.

Exclusive| Experts Debate Over Education and Health Allocations in New State Budget Updated 6/5/2024 10:25:00 AM

NUCA suspends land allocation for overseas USD payers as of June Updated 6/2/2024 7:50:00 AM

Egypt’s readymade garment exports grow 23% in 4 months Updated 5/30/2024 8:07:00 AM

Egypt's total budget deficit decline to 5.58% of GDP end-April Updated 5/30/2024 7:54:00 AM

Egypt to establish new steel company in Suez governorate Updated 5/29/2024 2:41:00 PM