Egypt also put a 20-day limit on permits to start any work with permits acquired and automated the tax return procedures.
The Egyptian Prime Minister Mostafa Madbouly said that there have been 14 new legislations to boost the investment climate in Egypt.
Minister Madbouly made these remarks during the 3-day Hekayet Watan conference that took place in the New Administrative Capital.
Prime minister added efforts were made to the procedures of investments including forming the Ministerial Committee for Resolving Investment Disputes, building a map for investment opportunities, and creating investment service centers.
In addition to that, a unit was created with the purpose of resolving investors’ problems, in the Egyptian Cabinet, and since its establishment it has solved 2100 of the 2650 problems it was presented with.
Egypt also put a 20-day limit on permits to start any work with permits acquired and automated the tax return procedures. The cabinet also proposed the creation of a remote litigation platform that enables concerned parties and their representatives to submit their judicial requests electronically.
“There are 24 companies that obtained the golden license, and we opened the areas of land allocation or usufruct rights, as part of a package to encourage investment, including 22 measures with additional incentives, and to enhance competition through a state-owned political document,” Madbouly added.
The Prime Minister also said that an online platform was also to be introduced to help facilitate any actions regarding investor projects which will decrease interactions with all employees. Multiple companies were provided with the Golden License of investments, with 15 already beginning to work on their projects.
