Ministry of Investment: 22 new projects with investments of $192.7 million and the creation of 19,000 job opportunities
Cairo – Nadeh Imam: In line with the directives of Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, to accelerate the pace of project implementation and enhance the investor experience, Dr. Mohamed Awad, Chairman and CEO of the General Authority for Investment and Free Zones (GAFI), chaired a meeting of the Board of Directors of the General Free Zone in Nasr City to review the zone’s performance results and discuss investors’ proposals to improve operations.
Since the beginning of the 2025/2026 fiscal year until the 15th of this month, 22 projects have been established in the zone, including 14 projects within the General Free Zone and 8 projects under the private free zones system, with total investment costs amounting to $192.7 million, creating 19,000 job opportunities.
The Board of Directors has finally approved three new projects: the “Radxim Dental Lab” project for manufacturing fixed and removable dental prostheses using 3D printing, with an Egyptian-French investment of €100,000 within the General Free Zone in Nasr City, targeting 100% export of its production; the establishment of “Sky Nova” for the manufacturing, trading, and tanning of leather, under the private free zones system, with an Egyptian-Chinese investment of $12 million, aiming to employ 1,000 workers, produce leather footwear for export, and meet part of the local market’s needs; and the creation of a private free zone named “Bunny Egypt for Textile Manufacturing,” with a Turkish investment of $82 million, to produce 150 million pairs of socks annually and provide 2,500 job opportunities.
Dr. Mohamed Awad emphasized that the new projects contribute to achieving the government’s developmental goals, particularly technology localization, employment generation, and export growth. He praised the General Free Zone in Nasr City as a leading model operating according to the best international standards, continuing its development since its establishment more than half a century ago, and highlighted its success in increasing the added value of local production inputs and delivering competitive export products in key global markets.
Dr. Mohamed Awad also discussed investors’ proposals, reaffirming the ongoing development of existing free zones and accelerating construction in new general free zones in 10th of Ramadan City, New October City, New Alamein City, and New Borg El Arab City, to enable the targeted expansions sought by free zone investors.
