The cabinet – under Prime Minister Mostafa Madbouli – approved during a meeting in the New Administrative Capital a number of decisions to improve business climate and offer new investment facilities.

The decisions included an approval on amendments of some provisions of the investment law to facilitate conditions for projects seeking to obtain”golden license”.

CEO of the General Authority for Investment and Free Zones (GAFI) Mohamed Abdel Wahab said the cabinet’s approval of the amendments falls within the framework of the state strategy to secure encouraging investment climate and expand the establishment of development projects which contribute to replacing imports through promoting local components.

He added that the higher committee examining applications for “golden license” approved eight investment projects in preparation for referring them to the cabinet.

The cabinet also approved another decision to grant incentives to companies operating in the auto-feeding engineering service domain.

Source: State Information Service Egypt