The General Authority for Investment and Free Zones (GAFI) approved new facilities for investors who purchased the statements of work of the 107 industrial services units in Mit Ghamr investment zone.
In a meeting held on Monday, chaired by Egypt's Minister of Investment and International Cooperation Sahar Nasr, GAFI approved the new facilities for the sake of improving and developing investors' businesses in the zone.
The new facilities give a six-month grace period for all projects to pay their dues, and introduce a 10 percent annual increase on leasing for a maximum of three years. The increases percentage will be determined according to the annual inflation percentage announced by the Central Bank of Egypt.
GAFI also decided to open reservations in the textile, timber, and engineering industries, as well as other supplement industry units as of Monday through the website www.investinegypt.gov.eg.