Prime Minister Ibrahim Mahlab visited on Wednesday the headquarters of the General Authority for the Economic Zone North-West Gulf of Suez (SEZONE) to get acquainted with investment opportunities there.
SEZONE chairman Mohamed Refaat said the authority was established pursuant to the presidential decree number 35 of 2003 to be the first economic zone in Suez governorate.
He added that the 20-kilometer authority stands as a model for the developed industrial zone at the local and regional levels.
Refaat added that the authority targets attracting investments in the industrial, construction, agricultural and pharmaceutical fields.
He noted that 500 factories would be established on an area of 17.88 km2 owned by the authority during the coming 10 years.
Refaat said the new projects will provide job opportunities for more than 120,000 workers.