{"id":71711,"date":"2023-06-22T00:00:00","date_gmt":"2023-06-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/22\/egypts-damietta-is-getting-a-new-freezone\/"},"modified":"2023-06-22T00:00:00","modified_gmt":"2023-06-22T00:00:00","slug":"egypts-damietta-is-getting-a-new-freezone","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/22\/egypts-damietta-is-getting-a-new-freezone\/","title":{"rendered":"Egypt\u2019s Damietta is getting a new freezone"},"content":{"rendered":"

<\/span>Public freezone coming to Damietta:<\/span> T<\/span>he General <\/span>Authority for Freezones and Investment (GAFI) and Italy\u2019s Finestra have inked an MoU to establish a 183-feddan public freezone in Damietta,<\/span> according to a GAFI <\/span>statement<\/a><\/span>. This will be Damietta\u2019s second public freezone and Egypt\u2019s tenth, and comes as part of a wider effort to draw in FDI and boost exports, GAFI said.<\/span><\/p>\n

The details:<\/span> The freezone will be located along the international coastal road for the project, and will include 220 industrial plots, according to the statement. Industrial development and infrastructure outfit Finestra Egypt will develop the zone, establish utilities, and carry out necessary maintenance to prepare the space for investments. <\/span><\/p>\n

The timeline:<\/span> The first phase of the project is set to launch next year, along with Finestra\u2019s promotional activities, the statement said. The project is divided into four phases, each of which includes from 50 to 60 industrial units, it added.<\/span><\/p>\n

Finestra will also promote the zone to prospective investors in Italy and elsewhere<\/span>, while GAFI will manage and operate the zone. <\/span><\/p>\n

What\u2019s next: <\/span>GAFI will fast track licenses and approvals for all of the project's stages, GAFI CEO Hossam Heiba said. The authority will also share data on Egypt with Finestra for the purpose of promoting the zone to investors looking to harness Egypt\u2019s advantages. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The freezone \u2014 located along the international coastal road \u2014 will launch next year<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[49,17,40,21],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-71711","post","type-post","status-publish","format-standard","hentry","category-zones","tag-egypt","tag-enterprise-logistics","tag-exports","tag-zones","wpautop","entry"],"acf":{"mongo_id":"ea6eab45-5c08-4894-b7cf-4b8c940c18c4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/1092.jpg,https:\/\/www.linkedin.com\/company\/gafi-egypt\/posts\/?feedView=all","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s Damietta is getting a new freezone","related_issue":[71700],"teaser":"The freezone \u2014 located along the international coastal road \u2014 will launch next year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.be796f6d-ae6b-413b-8a24-1ea3717e3b1c.mp3"},"yoast_head":"\nEgypt\u2019s Damietta is getting a new freezone - 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