Cairo: Egypt is poised to become a global business hub as Prime Minister Mostafa Madbouly recently chaired a high-level meeting to finalize the draft law establishing financial and business zones across the country. These zones, strategically located in key cities including the New Administrative Capital, are designed to attract foreign direct investment and stimulate economic growth.

According to State Information Service Egypt, the government envisions these zones as dynamic economic powerhouses that will provide a conducive environment for international companies to operate and thrive. They will offer state-of-the-art infrastructure, streamlined regulations, and tax incentives to lure global businesses. “These zones will serve as a catalyst for economic development, creating jobs, and boosting various sectors,” said Mohamed El-Homsany, the government spokesperson. “They will attract leading financial institutions and multinational corporations, cementing Egypt’s position as a regional economic powerhouse.
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The draft law, currently under review, represents a significant step in Egypt’s ongoing efforts to improve its investment climate and align its economic policies with global standards. By creating these special economic zones, the government aims to foster innovation, entrepreneurship, and sustainable development.

The meeting was attended by key government officials, including Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny, Minister of Investment and Foreign Trade Hassan El-Khatib, and Deputy Minister of Finance for Tax Policies Sherif El-Kilany.