Egypt’s Prime Minister Mostafa Madbouly chaired a high-level meeting on Wednesday to review the final draft of the long-anticipated Central Business and Financial Zones Law, a cornerstone of Egypt’s efforts to position itself as a regional financial hub.
The meeting, held at the Cabinet headquarters in New Alamein City, brought together key cabinet members and senior officials, including Minister of Housing and Urban Communities Sherif El-Sherbiny, Minister of Investment and Foreign Trade Hassan El-Khatib, and General Authority for Investment and Free Zones CEO Hossam Heiba. Joining remotely were Rasha Abdel Aal, Head of the Egyptian Tax Authority, and Rami Youssef, Assistant Minister of Finance for Tax Policy and Reform.
In a statement following the meeting, cabinet spokesperson Mohamed El-Homsany confirmed that the draft legislation is now in its final form. “The law has been thoroughly reviewed and will undergo a final round of technical adjustments before being submitted to Parliament,” he said.
According to El-Homsany, the draft law is the result of a series of extensive consultations led by the Prime Minister, aimed at crafting a modern legal framework capable of launching specialized zones for financial and business services—areas that would enjoy a tailored regulatory environment designed to foster innovation, streamline operations, and attract both domestic and international investors.
“The goal is to provide an investment climate that mirrors global best practices,” El-Homsany added, “similar to what is seen in international financial centers like Dubai, Singapore, or London.”
Officials say the law will offer a range of incentives, including simplified tax and customs procedures, fast-tracked licensing, and administrative services tailored to business needs. These zones are expected to host a range of high-value industries, including fintech, asset management, consulting, legal services, and international trade facilitation.
The move reflects Egypt’s broader strategy to diversify its economic base and reduce reliance on traditional sectors. The financial zones initiative is closely aligned with the government’s Vision 2030 development plan, which emphasizes sustainable growth, private sector participation, and regional competitiveness.
Sources close to the matter say the legislation is likely to be introduced to Egypt’s House of Representatives during the upcoming parliamentary session, with the government targeting a formal launch of the first central business zone before the end of the year.
If passed, the law would mark a significant shift in Egypt’s investment landscape, providing a dedicated platform for high-growth sectors and reinforcing the country’s ambitions to emerge as a gateway for capital flows into Africa and the Middle East.
