The report tackles inquiries on issues including golden license, industrial projects support, and overall investment incentives
The Egyptian Cabinet's Information and Decision Support Center (IDSC) has released a comprehensive booklet addressing key questions regarding investment in Egypt. The report tackles inquiries on issues including: golden license, industrial projects support and overall investment incentives.
The booklet will be presented to Prime Minister Mostafa Madbouly and made available to the public through media channels.
The golden license, as explained in the booklet, is a singular approval granted by the Egyptian Cabinet, encompassing all necessary permissions to establish, operate, and manage a project. This includes building permits and the allocation of required real estate.
The booklet further highlights the array of benefits extended to projects granted the golden license. Notably, investors in specific sectors can benefit from deductions ranging between 30% and 50% of their investment costs.
Additionally, the golden license allows for the establishment of dedicated customs ports for the import and export activities of the investment project, subject to agreement with the Ministry of Finance. A total of 24 golden licenses have been approved by the Egyptian Cabinet.
The Egyptian government has implemented several laws and executive regulations. These regulations aim to facilitate the process of obtaining industrial licenses and to prioritize Egyptian industrial products in government contracts.
The IDSC report also highlighted the General Authority for Investment and Free Zones (GAFI) issued a decision to reduce 62% of the documents required from companies to obtain the services of forming committees to determine the executive position and starting activity.
