The proposed incentives include tax breaks, facilitation of procedures, and more.
The proposed incentives include tax breaks, facilitation of procedures, and more - File Photo
Prime Minister Mostafa Madbouly chaired a meeting today at the government headquarters in New Alamein to review a package of new incentives for investors interested in establishing projects in central business districts.
During the meeting, Hossam Hegazy, CEO of the General Authority for Investment and Free Zones, highlighted several meetings held with Dr. Assem El-Gazzar, Minister of Housing, Utilities, and Urban Communities, as well as officials from the Ministry of Finance, to develop a plan for stimulating investments in central business districts, including the ongoing Central Business District in the New Administrative Capital.
The proposed incentives encompass the possibility of granting licenses for central business districts to host financial, service, commercial, administrative, residential, hotel, and other complementary projects.
The proposed incentives include tax breaks, facilitation of procedures, and more.
It was noted that these proposed incentives have been discussed with various private investors, both Egyptian and foreign, and have been warmly welcomed.
It is widely agreed that these incentives will contribute to driving and attracting further investments.
In this regard, the Prime Minister directed that clear criteria be established for projects that will benefit from these incentives, which are specifically designated for central business districts.
These criteria will include project size, investment cost, foreign investments, and other determinants.
Egypt has been actively promoting economic development and attracting investments in recent years.
The government's efforts to create a conducive business environment, streamline procedures, and provide incentives for investors have yielded positive results.
The focus on central business districts aims to enhance urban planning, infrastructure development, and economic growth in key locations.
These initiatives not only attract local and foreign investments but also create job opportunities, foster innovation, and drive sustainable development in Egypt.
