Arab Finance: Egyptian Prime Minister Mostafa Madbouly has met with several officials to review 11 sites proposed for the establishment of new industrial free zones, as per a cabinet statement.
The move is part of the country’s plan to promote investments and lure new investments, especially in the industrial sector, Madbouly said.
He stressed the importance of following specific standards in setting up the new zones, topped by attracting direct foreign investments (FDI).
The standards also include that the investment must be large in size, with exporting and boosting the local industry as the key goal of these zones.
