In line with the directives of Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade (MIFT Minister), to strengthen direct engagement with the business community, support existing investment expansions, and work to address challenges facing investors, Dr. Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI CEO), conducted a field visit to Polaris Parks in 6th of October City, Giza Governorate, operated by Polaris International Industrial Parks.
Polaris Parks is one of the investment zones developed and managed by the private sector under the administrative and regulatory oversight of GAFI, supporting an integrated approach to the respective roles of the State and private sector in creating an attractive and integrated investment environment.
GAFI CEO was received by Mr. Tunc Ozcan, Chairman of the Board of Directors of Polaris Parks, and Eng. Bassel Shoirah, General Manager at Polaris Parks, in the presence of a number of senior officials and representatives from GAFI and Polaris Parks.
During the meeting, Dr. Mohamed Awad expressed his appreciation for Polaris Parks' successful investment experience, affirming GAFI's commitment to continuing to support the company and its expansion plans in the coming period, as well as coordinating with relevant entities to address any challenges it may face. This would contribute to increasing its investments and strengthening its contribution to the Egyptian economy.
GAFI CEO emphasized that field visits are one of the key mechanisms for maintaining direct communication with investors, identifying their needs and proposals, and monitoring the progress of projects on the ground. Such visits enable the swift implementation of the necessary measures to address challenges, enhance the efficiency of the business environment, and improve the investment climate.
On his part, Eng. Bassel Shoirah welcomed GAFI CEO's visit and presented an overview of the development phases and key components of the zone, as well as its success in attracting and localizing industrial investments. He emphasized that the zone represents a successful model for specialized investment zones, given its integrated infrastructure and supporting services, which have contributed to enhancing its efficiency, competitiveness, and attractiveness to investors.
He explained that Polaris Parks' experience in developing and managing integrated industrial complexes has become a model attracting growing interest, based on its adoption of advanced standards for industrial-zone planning and management. He noted that the company currently has six sites and projects in Egypt, located across 6th of October City, New October City, Sadat City, and the New Administrative Capital, including existing industrial complexes and others under development in some of Egypt's key industrial and investment hubs.
Following the meeting, Dr. Mohamed Awad conducted an inspection tour of the investment zone, during which he visited a number of existing industrial projects and reviewed work progress and operating rates. The tour was conducted as part of GAFI's commitment to continuous field monitoring of investment projects and direct engagement with their needs.
Polaris International Industrial Parks is one of the prominent models in the development and management of integrated industrial zones. Its investment zone in 6th of October City extends over an area of approximately 463 feddans and targets textile industries, alongside a diverse range of other industrial activities. The zone was developed with investments estimated at approximately EGP 2 billion and currently hosts 138 industrial projects, contributing to the creation of more than 16,000 direct and indirect job opportunities.
