Egypt approves establishment of new public free zones in 4 cities
The decision came during the group's 28th meeting, chaired by Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport.
Under the new controls, factories in these zones will operate solely for export, with exceptions allowed only in limited cases upon the group's approval.
Establishing factories under the private free zone system will require prior clearance, and production entering the local market will be restricted. Energy allocations will be charged at global prices without subsidies.
The meeting also addressed complaints from manufacturers of automotive glass, billets, and sheet iron regarding customs distortions and unequal export support.
El-Wazir directed the Ministry of Investment and Foreign Trade, in coordination with the Ministry of Finance and the Central Bank of Egypt (CBE), to study measures to correct these issues and support domestic products.
Ceramic manufacturers' requests to reschedule debts to the Ministry of Petroleum were discussed, with agreement to consider repayment plans at reasonable interest rates and to extend an existing initiative allowing government agencies to settle debts through procurement.
The Consumer Protection Agency reported enforcement campaigns against warehouses selling imported used electrical appliances and violations involving energy efficiency labels. El-Wazir commended the agency's role in market regulation.
The meeting reviewed a leasing proposal from China's Handsome Textiles for a tailoring factory at Misr Spinning and Weaving Company in El-Mahalla El-Kubra. El Wazir stressed ensuring rental terms reflect the asset's value while promoting public–private partnerships to boost the spinning and weaving sector.
Also discussed was a financing proposal from the Ministry of Planning, in coordination with the European Bank for Reconstruction and Development (EBRD) and the Green Climate Fund, to support green transformation in industries such as mining, fertilizers, and cement.
The program offers concessional financing and technical support to the private sector without financial burdens on the government, aiming to accelerate decarbonization and strengthen Egypt's position as a green energy partner for Europe.
© 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (Syndigate.info).
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