Egypt's "Golden License" strategy sparks investment renaissance

CAIRO – 8 August 2023: Dr. Alaa Ezz, Secretary-General of the Federation of Chambers of Commerce, emphasized Egypt's economic landscape's critical role and the monumental strides made, particularly under the leadership of President Sisi, who now heads the Supreme Investment Council and introduced the coveted "Golden Licence."

Dr Alaa Ezz emphasized the importance of the "Golden Licence" as a universal tool open to all investors, not only strategic industries, in encouraging investment in a TV press interview.

He also highlighted the government's commitment to monitor state property policies, industries divested by the state, and the new law that ensures parity between state-owned companies and private enterprises concerning incentives, fees, and collaboration between the government and the private sector in infrastructure investments.

Dr. Ezz elaborated that Egypt, through numerous legislative and procedural amendments, is resolutely enhancing the business environment.

He pointed out that President Sisi's directive to establish online companies and introduce e-government platforms has successfully eliminated bureaucratic obstacles that could hinder investment activities.

This innovative approach significantly enhances the business climate, facilitating a smoother investment process. Dr. Ezz anticipates that Egypt's continuous progress, driven by comprehensive reforms, will elevate its position in the global investment ranking.

Egypt's pursuit of business-friendly reforms through extensive legal and procedural modifications is redefining its investment landscape.

The introduction of the "Golden License" and a concerted focus on streamlining administrative processes signify Egypt's unwavering commitment to fostering an attractive and conducive investment environment.

As the nation continues its trajectory of economic growth, the synergy between governmental efforts and private sector engagement augurs well for Egypt's position as a dynamic global investment destination.