The General Authority for Investment and Free Zones (GAFI) organized a press conference to review the latest developments in the investment environment in Egypt, in addition to efforts exerted by the Egyptian government to improve the services provided to investors.

GAFI announced on Monday that it created a new single-approval system for projects to facilitate investments. The authority has granted 20 of these new approvals, including four for green hydrogen projects Heiba said during the press conference.

The new system issues the approval within 20 days and covers licensing for construction, environmental requirements, civil defence, and other permits relevant to investment activities.

Heiba also confirmed that President El-Sisi ratified the recent investment law amendments two days ago to start activating them to encourage investors.

Heiba also spoke about the Golden License, which allocates land for investors to operate enterprises on it without requiring further government approvals. Until present, 20 golden licenses were issued.

The GAFI chairman also stated that strategies are being set to strengthen these sectors: green energy, automotive, home appliance, pharmaceuticals, ICT, logistics, education, and agriculture and fisheries.