Egypt issues 31 golden licences since Dec. 2022 – GAFI chair

Egypt’s General Authority for Investment and Free Zones (GAFI) has issued 31 golden licences to investors since December 2022, attracting both international and domestic investors, Chairman Hossam Heiba announced on Saturday.

“We’ve seen projects launched and operational today, even exporting already,” Heiba emphasised during a panel discussion “Transforming Egypt: Strategic Reforms for a Nearshoring Hub” at Egypt-EU Investment Conference, taking place in Cairo on June 29-30.

Beyond approvals, GAFI has also revitalised investor incentives and support structures, he added. This includes a focus on investment and technology parks, alongside streamlining free zone regulations. The goal is to attract industries that generate economic value, create jobs, and boost exports.

“We’ve also introduced custom-made incentives,” Dr. Heiba explained. This is a new approach, tailoring existing legal incentives to specific sectors as GAFI has customised packages for over eight sectors already, including hydrogen, industry at large, healthcare, tourism, SMEs, and more.

“There’s a lot happening,” Heiba concluded. “I urge everyone to make use of these platforms and incentive schemes that are already there and we are embarking on marketing and spreading out the word all over the world to make use of these incentives.”