Mohamed Ahmed _ Dr. Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI), stated that the investment zone in the "Alam El Roum" project represents the 21st investment zone established since the enactment of the Investment Law in 2017, noting that 12 investment zones have entered into operation, while 9 other zones remain under implementation.
During his speech at the inauguration ceremony of the investment zone at the "Alam El Roum" project, Awad stated that the issuance of the resolution establishing the zone constitutes a significant step toward executing the project, reflecting the role of investment zones in providing diverse frameworks to attract investments and facilitate project establishment.
He explained that investment zones represent one of the investment regimes available to investors, alongside public and private free zones and technological zones, pointing out that selecting the appropriate investment regime depends on the nature and requirements of the project.
Awad added that the investment zones regime aims to enable investors to focus on their core business activities, while the Authority, in coordination with the relevant government entities, handles the follow-up of necessary procedures and licenses for the projects, in accordance with the mandates of each entity and the governing regulations.
He noted that this model contributes to alleviating administrative burdens on investors, allowing them to direct their resources toward project development, execution, and marketing, thereby fostering swift implementation and enhancing the investment climate.
The CEO of GAFI commended the cooperation with the Ministry of Housing, Utilities, and Urban Communities and various relevant government entities, praising the efforts of the work teams in completing the necessary procedures to establish the investment zone in the "Alam El Roum" project.
He emphasized the importance of continued coordination among relevant entities to streamline procedures for investors and support the execution of new projects, thereby bolstering the attractiveness of the Egyptian market for investments and supporting economic development targets.
