MP and Deputy Chair of Parliament’s Industry Commitee Mohamed Elsallab said that General Authority for Investment and Free Zones (GAFI) decision to issue golden license for some projects will boost investments into Egypt.
Elsallab decribed the decision as a major shift in the facilities granted to the industrial sector.
He added that some projects are of strategic importance to the Egyptian economy, and are so great that granting them the golden license is a certificate that Egypt opens its doors to giant quality investments, whether locally or abroad.
Egypt’s Cabinet under Prime Minister Mostafa Madbouli approved a draft resolution tabled by GAFI on the conditions for granting a “golden license” to investment projects.
GAFI CEO Mohamed Abdel Wahab said the authority is currently coordinating with all ministries to make a list of the projects that would benefit from the golden license.
“The golden license is granted once directly by the prime minister to some projects. These projects include green hydrogen, electric cars, infrastructure and seawater desalination and renewable energy projects,” Madbouly said.