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The Egyptian parliament has approved a draft law to reduce the costs of research and promote innovation. The bill, passed on March 5, exempts higher education and scientific research bodies from taxes and customs fees, including the 14% value-added tax, on imported equipment and tools.
The law aims to encourage young researchers and university students to innovate and conduct research that can contribute to Egypt’s development, Gamal Shehata, the head of the parliament's Education Committee, said in a statement. He added that the new law will revolutionize scientific research and mark a renaissance for universities and research centers. He called it a great leap forward for the national economy.
