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Egypt launches site for investors to apply for ‘golden license’

Two types of businesses are eligible, those who contribute to sustainable development and those who establish partner up public and private sectors.
08.12.22 | Source: Ahram Online

The site for the golden license, which was launched by President Abdel-Fattah El-Sisi in October, has a list of requirements, rules and regulations for prospective investors.

Two types of businesses are eligible for the license: those that contribute to sustainable development in line with the state’s economic development plan; and those that establish partnership between the private and public sectors – or between the private sector and any entity affiliated with the state. Examples of the latter include projects involving public utilities and infrastructure, renewable energy, roads and transportation, ports and communications, and information technology.

Although the cabinet initially said that applicants must either be Limited Liability Companies (LLCs) or joint-stock companies with starting capital of no less than 20 percent of the total project cost, it later cancelled this condition.

Companies are instead required to provide proof of financial liquidity, the cabinet said in a separate statement.