Incentives to support and encourage private sector investment and job creation
Egypt succeeded in occupying the fourth Arab position in the production of liquefied natural gas and entered the list of the largest exporters of liquefied natural gas after the great discoveries that pushed Egypt to the list of countries exporting natural gas.
Shrouq
The investment climate in Egypt has become more stimulating and attractive. With our strong infrastructure capable of accommodating more productive activities.
The Egyptian economy occupied the second position in the African continent in all economic sectors and achieved high growth rates that exceeded 4%, through the implementation of the road map set by President Abdel Fattah El-Sisi to restructure the Egyptian economy and its implementation was directly supervised by the executive apparatus of the state with precision, which reflected positively on
He added that Egypt succeeded in occupying the fourth Arab position in the production of liquefied natural gas and entered the list of the largest exporters of liquefied natural gas after the great discoveries that pushed Egypt to the list of countries exporting natural gas.
Egyptian economy
This development reflected positively on the performance of the Egyptian economy indicators and pushed it to achieve high growth rates. Egypt succeeded in establishing new industrial cities and the continuous work to remove the obstacles facing investors through:
Establishing many cities and large developmental projects such as Al-Roubiki Leather City, Furniture City in Damietta, Plastic Industries Complex, Central Sinai Industrial Zone, and many heavy industries factories.
The agricultural, livestock and fisheries sectors have also been developed through the implementation of a number of major development projects in the land reclamation and livestock development sector, the fish farming project in Ghalioun pond in Kafr El Sheikh, the fish farming project in Port Said, and the fish farming project in the Red Sea and the Mediterranean.
In related context, Dr. Mostafa Madbouly, Prime Minister, held a meeting at the government headquarters in New Alamein yesterday to review a package of new incentives for investors wishing to establish projects in the central areas of business.
Investments in the central areas of business
During the meeting, Hossam Haiba, CEO of the General Authority for Investment and Free Zones, said that over the past period, several meetings were held with Dr. Assem El-Gazzar, Minister of Housing, and officials of the Ministry of Finance regarding developing a vision to stimulate investments in the central areas of business, including the central area of business being implemented in the new administrative capital.
The incentive proposal includes studying the possibility of licensing central business areas to establish financial, service, commercial, administrative, residential, hotel and other activities projects complement to it. Suggested incentives include tax incentives, process facilitations, and others.
Private sector investors
It was noted that these proposed incentives were discussed with a number of Egyptian and foreign private sector investors, and they are welcomed and agreed that they will contribute to attracting more investments.
In this regard, the Prime Minister directed that there be clear criteria for the projects that will receive these incentives, which are allocated to the central areas of business, whether for the size of the project, its investment cost, investments received from abroad, and others. from determinants.
Productive activities
Dr. Mohamed Maait, Minister of Finance, confirmed that the investment climate in Egypt has become more stimulating and attractive. We have a strong infrastructure capable of accommodating more productive activities.
