Mr. Hossam Heiba, GAFI CEO made an inspection tour to the public free zones in Suez Governorate, to follow up on the expansions works of the companies operating in such zones and facilitate their work.
There are three public free zones in Suez Governorate in Port Tawfiq, Adabiya, and Ataqa due to the geographical significance of the governorate as a southern gateway to Suez Canal and its abundance in natural and human resources
At the beginning of the tour, Mr. Heiba met with major general Abdel Majeed Saqr, Suez Governor, and they discussed establishing a new investment zone for small industries complementing the industries of Suez Canal Economic Zone - SCZONE.
GAFI CEO inaugurated the new production line of Galaxy Chemicals company, in Ataqa Free Zone, at an investment cost of $5.5 million, which contributes to enhancing Egypt's petrochemical exports and increasing foreign exchange earnings.
Moreover, Mr. Hossam Heiba visited the factories of “Beam Consolidated Group" for the production of building materials, and discussed with Mr. Felix Moral, the company CEO, the expansion plans of the group's companies, such as ECOBAT For Industrial Development “MDC" and SINOBAT for Manufacturing Building Materials. Foremost among such plans is to develop eco-friendly building materials, in addition to increasing its exports volume from 30% of the production nowadays to 50% in the coming years.
Mr. Felix Moral emphasized the attractiveness of the Egyptian economy for investment, which led to the development of the company size since the beginning of its operation in Egypt in 2016, as the value of the company's investments and assets in Egypt currently amounts to about EGP 2 billion, making it the biggest producer of gypsum boards in Egypt.
At the end of the tour, GAFI organized a meeting included Mr. Hossam Heiba and the investors of the three free zones in Suez; Adabiya, Ataqa, and Port Tawfiq. In the meeting, they discussed ways to develop work in the free zones and the challenges facing investors. In addition, GAFI CEO reviewed the latest investment stimulating measures taken by GAFI, the most important of which is the availability of companies e-incorporation, and the reduction of the number of documents needed to incorporate and operate companies, emphasizing the government's openness to the business community's proposals to develop legislation and procedures related to the investment environment.
