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Egypt grants new incentives to foreign investors

The Egyptian government announced the granting of a special license to foreign investments in three specific fields, which expedites procedures to implement projects, as part of efforts to revive the ailing economy in the country.
An Egyptian laborer is pictured at Al-Reesa seawater desalination plant in el-Arish city, in the northern Sinai Peninsula, March 20, 2022.

CAIRO — Egyptian Prime Minister Mostafa Madbouly announced during a press conference May 15 that the government has granted the so-called golden license to several projects in a bid to attract foreign investments, as part of a series of initiatives to confront the prevailing economic crisis in Egypt.

“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.

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