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HomeWorldEgypt plans to tender 8 trade zones next month

Egypt plans to tender 8 trade zones next month

Egypt’s Trade Ministry plans to tender 500 million square metres of land for specialised trade zones next month, part of a plan to boost internal trade and lure more investment, the state news agency reported.

The eight zones, located in six governorates, are expected to attract about EGP750 million ($132 million) worth of investments, the agency MENA said on Saturday, citing Trade Minister Rachid Mohamed Rachid.

Bidding will be open to local and foreign investors. It will last from October 1 to November 30, with contracts awarded in December.

The tender comes within a state plan to double the growth rate of internal trade to 12 per cent from 6 per cent, and increase investment in the sector, the report added.

The ministry plans to issue a second tender by the end of the year to raise the number of such zones to 16 in governorates including Port Said, Beni Suef, Tanta, and Mansoura.

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