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hossam heiba, ceo of the general authority for investment and free zones (gafi) in egypt, confirmed that the government planned to build 6 new free zones in the coming year, two of which had already been approved. the free zones are export-oriented areas established by the egyptian government, where enterprises with a product export ratio of 80% or above are qualified and therefore entitled to special incentives in terms of investment, taxation, and import and export. as of july 2024, there are 9 public free zones and 204 private free zones in egypt, totaling 1,169 projects with a total investment of $13.8 billion which provide 201,000 direct jobs. the number of the enterprises running in existing free zones has reached 1,300, with the exports accounting for 22% of the country's total.
