Egypt issues 22 decisions to promote direct investment

During the meeting, the Supreme Council for Investment approved 22 decisions to give a powerful impetus to various economic sectors and fields, according to the Egyptian presidency.

These decisions include reducing the cost of establishing companies, simplifying the required approval procedures and their duration, and expanding the issuance of the Golden Licence.

The decisions aim to stimulate local and foreign investment, promote competitive neutrality in the Egyptian market, and provide comprehensive incentives and facilities in various sectors such as agriculture, industry, and energy, stated the Presidency.

They also aim to facilitate land ownership, enhance governance and transparency, and alleviate financial and tax burdens on investors.

The transportation and housing sectors benefit from these decisions, especially in new cities.  

The president instructed the government to implement the approved decisions as soon as possible according to a specific timetable, the presidency added.

The Supreme Council for Investment was established in 2016 and was later restructured in 2023.

The council's meeting on Tuesday is the first since its restructuring.