President's decisions to support the industrial sector include 7 stimulus packages to attract investments

Dr. Abdel Moneim El-Sayed, Director of the Cairo Center for Strategic Economic Studies, said that the president's directives are to support and encourage industrial investment, provide incentive packages for Egyptian, Arab and foreign investors, and attract new industrial investments.

These incentives include:

1. Granting a tax exemption for a period of five years

2. Expanding the granting of the golden license to all industrial projects

3. The possibility of recovering a percentage of the value of the land up to 50%, provided that the project is implemented in half of the specified period, which helps to provide the necessary liquidity to start the project and stimulates investors to expedite the completion of the construction stages and the start of operation.

The director of the Cairo Center for Strategic Economic Studies indicated that there is no doubt that this package of incentives will help me

Making Egypt an important attraction point for foreign and Arab investments and encouraging local investors to quickly make investment decisions inside Egypt and expand existing projects.

Localization of industrial technology in Egypt

Abdel Moneim Al-Sayed continued, as Egypt tends to be a bright spot on the global investment map, attracting investors in particular, and that the Arab region has become more attractive to investment, and then the President’s directives issued to exempt industrial projects that target strategic industries, from all types of taxes, except The value-added tax is up to 5 years and is in the interest of the investor, emphasizing the state’s direction towards empowering the local and foreign private sectors to bring about economic movement within society and will also help to localize industrial technology in Egypt.

Increase the local product

And he continued to increase the local product inside the Egyptian market, and thus it will reduce imports from abroad and increase the quantities offered of products, which lowers prices and reduces inflation rates, adding that the increase in industrial technology and its localization will help increase Egyptian exports, which increases the dollar revenues in Egypt, as the percentage of industrial products reached 85% of the volume of Egyptian non-oil exports.

Dr. Abdel Moneim El-Sayed, Director of the Cairo Center for Strategic Economic Studies, emphasized that there is no doubt that this decision came as a link in the chain of the state’s tendency to support the industrial sector in Egypt, which began in 2015 when Egypt’s vision for sustainable development 2030 was developed, and in it the state’s interest in the industrial sector took place during In the past period, several measures and decisions aimed at strengthening the industrial sector, including:

1- Building 17 industrial complexes with more than 5,400 factories and building industrial cities such as the city of Al-Rubaiky, the Suez Canal axis area and others.

2- Developing Egyptian ports to serve exports, an initiative to finance EGP 200 billion for small and medium enterprises, including industrial ones, at a fixed interest rate of 5%.

3- Exempting industrial projects from real estate taxes during the Corona crisis

4- The continuation of financing initiatives for industrial companies so far, at 11%.

5- Applying the policies of the state ownership document and keeping the state away from economic activity

6- Cancellation of preferential treatment for government companies

Dr. Abdel Moneim El-Sayed, Director of the Cairo Center for Strategic Economic Studies, stressed that these decisions came to stimulate the industrial sector and pave the way for attracting new investments, especially since Egypt officially joined the BRICS group, which is a good opportunity to attract investments from the BRICS countries.