The permanent committee for studying applications for the establishment of new investment zones, headed by Mr. Hossam Haiba, CEO of the General Authority for Investment and Free Zones, approved the request submitted by “GV Investments LLC.”, to establish the city of Tarbol, according to the investment zones system, in preparation for the issuance of the decision authorizing the establishment of the zone from Dr. Mostafa Madbouly, Prime Minister.

The Auditing and Financial Consulting Center at Ain Shams University, participated in the economic feasibility study of the project, sponsored by Prof. Ghada Farouk, Acting President of the University, and supervising of Prof. Ahmed Selim, Director of the Center.

The following is the text of the statement issued by the General Authority for Investment and Free Zones:

* The General Authority for Investment and Free Zones agrees to establish the city of Tarbol under the investment zones system

The permanent committee for studying applications for the establishment of new investment zones, headed by Mr. Hossam Haiba, CEO of the General Authority for Investment and Free Zones, approved the request submitted by “GV Investments LLC.”, to establish the city of Tarbol, according to the investment zones system, in preparation for the issuance of the decision authorizing the establishment of the zone from Dr. Mostafa Madbouly, Prime Minister.

The project aims to establish an integrated regional development complex, on an area of 26,000 feddans in the desert hinterland of the city of Atfih, north of Giza. It accommodates a mixture of various economic activities, industrial and logistical, financial and business centers, commercial and administrative centers, residential neighborhoods, and community, health, training and technical services centers.

The investment costs for establishing and developing the project amount to half a trillion pounds, and it is expected to provide 750,000 direct job opportunities, in implementation of the development strategy "Egypt's Vision 2030", regarding the establishment of green and smart cities.

The project will contribute to achieving a strong addition to the investment zones system, which currently includes 16 investment zones spread across the governorates of the Republic, of which 11 are already existing, with a total area of ​​2,400 acres, including 1,269 projects with an investment volume of 34 billion pounds, and providing more than 90,000 job opportunities, in addition to 5 Investment areas under construction in the governorates of Cairo and Giza, with a total area of about 2,000 acres, and include 311 projects, with investments amounting to 157 billion pounds, and providing more than 167,000 job opportunities.