The Finance Ministry was allegedly behind the scrapping of private free zones, an unnamed source told El Watan, claiming that the ministry was primarily concerned that private free zones could become hotbeds of corruption. The head of the importers’ division at the Cairo Chamber of Commerce told the newspaper separately that private free zones are responsible for 80% of smuggling cases and cost the state around EGP 66 bn annually (here’s the salt shaker to help you digest that one). The Investment Ministry and some industry players are critical of the decision on private free zones.

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