Egypt is studying 40 investment applications to obtain the golden license

Hossam Heiba, CEO of the General Authority for Investment in Egypt, said that 40 requests for golden licenses are being studied during the current period, while 13 licenses have been granted to companies.

Heiba ​​added that Egypt aims to generalize the golden license experience for all industries.

Incoming investments

Incoming investments in Egypt vary between industrial, service, financing, construction, real estate investment, communications and information technology, tourism, in addition to the petroleum sector.

Heiba said that 29% of the inflows came for the purpose of establishing new companies and increasing capital, while 20% is the proceeds of selling companies and productive assets to non-residents, and 9% are transfers to buy real estate in Egypt.

The golden license is a single approval to set up, operate and manage a project, including building permits, and allocating the necessary real estate for it, and it may be granted to companies by a decision of the Council of Ministers.

The golden license may be granted to the following companies:

1- Companies that established strategic or national projects that contribute to achieving sustainable development in accordance with the state's economic development plan.

2- Companies establishing partnership projects between the private sector and the state, the public sector, or the public business sector, in the activities of (public utilities and infrastructure - new and renewable energy - roads and transportation - ports - communications and information technology).

Foreign investment 

The value of foreign investment for the first quarter of the current fiscal year amounted to $4 billion.

Net foreign direct investment reached $8.9 billion in the last fiscal year, the highest level since 2011.