Egypt to issue more golden licences

The Egyptian government is set to grant more golden licences in a bid to attract more overseas investors.

The General Authority for Investment and Free Zones (GAFI) has stated that it will approve 45 more applications in the coming days. This is on the back of 22 licences issued so far this year.

The licence will permit investors to establish projects in certain districts without needing the approval of different authorities that may be involved.

A memo issued by the Cabinet’s Information, Support and Decision-Making Centre stated that the aim was to encourage investment in key sectors that can contribute to the economic development of the country.

The Egyptian government has also formed a working group to assess the proposal to expand the projects currently under the GAFI system and the facilities and incentives involved.

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