- 22 New Projects with Investments of $192.7 Million, Creating 19,000 Jobs
In line with the directives of Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, to accelerate project implementation and improve the investor experience, Dr. Mohamed Awad, GAFI CEO, chaired a meeting of the Board of Directors of the Nasr City Public Free Zone to review the Zone’s performance results and discuss investors’ proposals for enhancing its operations.
Since the beginning of FY 2025/2026 through September 15, the Zone has seen the establishment of 22 projects, including 14 projects within the Public Free Zone and 8 projects under the Private Free Zones framework, with total investment costs amounting to $192.7 million and creating 19,000 jobs.
The Board of Directors gave final approval to three new projects, including Radexim Dental Lab, a project for manufacturing fixed and removable dental prostheses using 3D printing, with Egyptian-French investment of €100,000 within the Nasr City Public Free Zone. The project targets exporting 100% of its production. The Board also approved the establishment of Sky Nova for the manufacture, trade, and tanning of leather under the Private Free Zones framework, with Egyptian-Chinese investment of $12 million. The project targets employing 1,000 workers, producing leather footwear for export, and covering part of the local market’s needs. In addition, the Board approved the establishment of a Private Free Zone under the name “Pony Egypt for Textile Manufacturing,” with Turkish investment of $82 million, to produce 150 million pairs of socks annually and create 2,500 jobs.
Dr. Mohamed Awad affirmed that the new projects contribute to achieving the Government’s development objectives, particularly technology localization, employment generation, and increasing exports. He also highlighted the Nasr City Public Free Zone as a pioneering model operating in accordance with international best practices and continuing to undergo development since its establishment more than half a century ago. He noted its success in increasing the added value of locally sourced production inputs and providing export products capable of competing in major global markets.
Dr. Mohamed Awad also discussed investors’ proposals, affirming the continued development of existing free zones and the acceleration of construction works in the new Public Free Zones in 10th of Ramadan, New October, New Borg El Arab, and New Alamein, in order to accommodate the targeted expansions of free-zone investors.
