Are private free zones making a comeback?

Are private free zones making a comeback? The return of private free zones in the Investment Act is still on the table as far as the House Economic Committee is concerned, committee chairman Amr Ghallab said yesterday, according to Al Mal. The committee, which is still reviewing the draft investment act, will study the issue despite the Finance Ministry’s continued objection to the zones. The law in its current form bans establishing new private free zones, but grandfathers in existing ones. The House of Representatives is expected to vote on the Investment Act in a plenary session before mid-April, Ghallab added. The committee has finished reviewing 100 of the law’s 114 articles. In typical House form, he expects the remaining four articles to be finished by the end of March. No rush, man.