This occurred during the first international exhibition of industry and the opening of Sisi to the recipient, which emphasises the promotion of boosting the local component in the Egyptian industry.
The “golden licence” enables businesses to acquire a single permission for the project’s establishment, operation, management, licence to create the project, and allocation of the required facilities.
Originally, firms that build strategic or national projects with the intention of developing the state, particularly for green hydrogen projects, the manufacture of electric vehicles and infrastructure, seawater desalination projects, and renewable energy, were given the golden licence.
Following proposals from the economic conference held last week to support the private sector and streamline procedures for project implementation at a faster rate, Sisi’s instructions to issue investors the golden licence came to pass.
Egypt established a flexible exchange rate for the pound last Thursday, which plummeted to roughly 23 pounds for the dollar, the lowest level in its history, and increased interest rates in a unique meeting by 200 basis points.
Within three months, Egypt grants the golden licence to all investors.
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