Cairo: CEO of the General Authority for Investment and Free Zones Mohamed Awad stressed on Thursday, May 7, 2026, that free and investment zones are vital for attracting foreign capital and boosting exports, highlighting expansion as key to economic competitiveness. Awad made the remarks during an expanded meeting with zone leaders to monitor executive progress and expansion plans.

According to State Information Service Egypt, Awad urged teamwork to meet targets, noting the investment zones' success in attracting capital and creating jobs. He emphasized balancing governance with eased procedures to support serious projects, adding that GAFI is studying establishing new public free zones.

The meeting reviewed digital transformation progress and automation to reduce service time and improve investor experience via specialized training. GAFI Deputy CEO Yasser Abbas reviewed the executive status of nationwide zones and mechanisms for improving service quality.

GAFI noted that 1,254 projects currently operate under the free zones system, providing nearly 253,000 direct jobs.