How the golden license increased foreign investment in Egypt?

Mostafa Madbouly, Prime Minister, said that the Investment Support Unit in the Council of Ministers has finished solving 80% of the problems and demands of investors.

Foreign direct investment

He explained that the net foreign direct investment amounted to 94% in the first quarter of the current fiscal year, compared to the period of last year.

Foreign direct investment refers to positive indicators of the inflow of foreign direct investment into Egypt with this number that has not occurred in 11 years. 

Strategic industries

The increase in investment is due to several factors which are, Egypt is the perfect choice to reach global markets, due to the unique location of the Suez Canal as the shortest link between East and West, as well as East Port Said readiness to localize strategic industries.

The expansions in capital amounting to $3.4 billion come as a result of national projects, which directly contributed to creating investment opportunities, with intensive promotional efforts for the targeted sectors in accordance with global changes.

Importance of the golden license

General Mohamed El-Toukhy, Head of the General Secretariat at the General Authority for Investment, reviewed the importance of the golden license that President Abdel-Fattah El-Sisi directed, which facilitated many procedures for investors.

- He explained that a special unit for the golden license has been allocated within the General Authority for Investment, through which all papers and licenses are finalized through one port.

- The golden license represents a strong motive to move the wheel of investment in various economic sectors.

- The golden license provides an opportunity to attract large companies and manufacturers to the Egyptian market.

- Golden license opens sustainable projects that generate positive returns to reduce unemployment rates and advance the growth of the national economy.

- The golden license will be a reason for attracting foreign investments to Egypt, by granting advantages that free it from the typical burdens, as it requires the approvals of all parties.

- The golden license encourages local or foreign companies and investors to expedite the implementation of various development projects.

- In addition to that, the golden license facilitates all stages that the investor goes through to start the activity and until the start of production, to ensure the localization of strategic industries and increase exports.

- Golden license facilitates the rapid allocation of land and the revision of a number of legislations will cause a boom in economic activities.