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Egypt’s cabinet eases conditions to obtain Gold License

Egypt’s cabinet eases conditions to obtain Gold License

Arab Finance: The Egyptian cabinet ratified some amendments to the executive regulations of the Investment Law to facilitate the conditions of projects’ submission to obtain the Gold License, according to a statement issued on December 7th.

This approval comes in line with the state’s strategy to encourage investments and expand in the establishment of development projects.

The amendments exclude the condition stipulating that the applicant company shall have an issued capital of not less than 20% of the investment costs of the planned project, provided that the company shall submit the necessary documents of the projects’ financial solvency.

The decision came as a response to requests by investors to obtain the Gold License.

Moreover, the cabinet approved granting incentives for companies operating within the engineering services activities related to the automotive industry through registering activities of the research centers, accreditation labs, and software programs development centers as per the Investment Law No. 72 of 2017.

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