Arab Finance: The Egyptian Cabinet has ratified a draft law on the amendment of some provisions of the investment law, according to a statement on June 21^st.

The proposed amendments include ensuring that all investment projects benefit from the public incentives stipulated in the law, in addition to increasing some private incentives granted to investment projects.

They also cover extending the grant period in which a new company shall launch the investment project in order to benefit from the incentives stipulated by the law. The period may be extended to nine years.

Furthermore, the amendments include adjusting the mechanism of setting the investment map and the included data.

The amendments also involve widening the scope of projects that could be granted the golden license and those that may be licensed to be set up in free zones to include petroleum, fertilizers, iron and steel, and natural gas production projects as well as projects that rely heavily on energy.

This is in addition to a legislative adjustment to the issue of exiting hazardous waste from the free zones to the country, with the aim of disposing or recycling them.

The amendments also cover granting an additional investment incentive to attract specific industries and direct them toward certain areas in the country.

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