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Egypt to Establish 187 Acre Free Economic Zone in New Aswan City

The zone will be dedicated to a combination of tech, agriculture and agri-food projects, among others.

Project development in New Aswan City

The Egyptian cabinet has approved the establishment of a 187 fedan free-zone south of New Aswan City, as reported by Egypt Today. The project is predicted to attract $2.3 billion in private sector investment, and is said will create 15,000 jobs, according to a statement by the cabinet.

The free zone is is set to lure local and foreign investments, and would be dedicated to a combination of tech, agriculture and agri-food projects, as well as many more investment projects that include processing, drying, and packing of agricultural yields.

The news comes just a few short months after it was announced that a free economic zone is to be established in Nuweiba as part of a huge infrastructure redevelopment project in Sinai.

Main image: Tour Club Egypt

 


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