The General Authority for Investment and Free Zones (GAFI) succeeded in solving problems of 120 companies over the past six months, including 10 companies in the New Valley, said GAFI Chairman Alaa Omar.

During his visit Sunday to New Valley governorate, Omar said that the GAFI is about to hold an investment conference within the upcoming days to review 92 projects in Upper Egypt's governorates.

The GAFI approved to grant a license to establish a cement factory in New Valley, he added.

He, meanwhile, said that efforts are being exerted to give serious investors a range of facilities within the upcoming period.

New Valley Governor Mahmoud Ashmai said that the most important investment projects in fields of agriculture and tourism stand at 473 with investments which surpass 1.436 billion pounds.

The governorate works on benefiting from its mining and environmental capabilities in order to encourage businessmen to carry out investments in New Valley, he added.