Egypt's government has approved Monday the establishment of new public free zones in 10th of Ramadan, New October, New Borg El Arab, and New Alamein, as part of efforts to support export-driven growth while safeguarding domestic industries. The decision was made during the 28th Ministerial Group for Industrial Development meeting, chaired by Minister of Industry and Transport Kamel El-Wazir. The move comes as occupancy rates in existing public free zones approach 95 percent. New regulations will restrict factories within these zones from selling products in the local market, requiring production to be dedicated to exports. Exceptions will be limited and subject to government approval. Additionally, energy allocated to these zones will be billed at global market rates, with no subsidies provided. These measures aim to ensure fair competition and optimise the use of free zone facilities, fostering Egypt's industrial development and integration into global trade networks. Attribution: Amwal Al Ghad English
