Page 9 - EGYPT - En Vol.4 HD

E gypt
Snapshot of E gypt 7
Thanks to the positive results achieved in the first phase, licenses necessary to establish the investment projects and
the government started the second phase of the economic start the activity. In addition to providing the basic utilities
reform program, which is based on a set of structural reforms of electricity, water and natural gas in different governorates
to support solid and sustainable economic growth by and geographical areas, especially where the Egyptian
focusing on a number of priority sectors namely; agriculture, State is paying due attention to support and develop the
industry and ICT. Furthermore, this phase aims to improve the infrastructure projects, which contributed significantly in
business environment, develop the role of the private sector, enhancing efforts of preparing the investment and business
boost efficiency of the labor market, diversify the productive climate. An integrated network of new roads and axes
structure of the Egyptian economy and develop the human can easily connect the production zones to the areas of
capital, thus leading finally to encourage and attract more commercial and industrial activities, the ports and airports in
local and foreign investments to different economic sectors, order to facilitate the trade exchange and enhance efforts to
particularly the sectors which are supported and promoted attract foreign direct investments.
by the government.
This, in addition to stimulating and encouraging investment
In this context, the State enhances the role of the private by simplifying the tax law, and achieve stability to the tax
sector in order to lead economy during the coming stage prices without affecting the tax exemptions and incentives
and take contribution of the private investments in the granted to investors.
implemented investments up to 65% during the next three
years. This comes through providing an integrated system This report shows the key indicators of the Egyptian economy
to support the investment climate in cooperation and as compared to the regional and emerging countries. It
coordination among all parties concerned in order to enable also deals with all basic axes related to investors including
local and foreign investors to do business, establish new utilities, infrastructure, services, lands and properties, as well
companies or expand existing projects at the lowest time as the fees of services to investors against establishment of
and cost. new projects or expansion of existing ones with the aim of
highlighting competitiveness of the Egyptian economy, the
After finalization of the basic legislative amendments, investment and business climate in Egypt.
the State is currently sustaining adoption of the steps This, however, contributes in attracting
needed to simplify and facilitate procedures before all more local and foreign investments thus
investors, particularly on the level of granting special benefiting from the promising investment
incentives stipulated by the investment law, granting the opportunities available in the Egyptian
Golden License in accordance with the law and resolutions market, which is currently classified as one
applicable in this regard, simplifying allocation of land and of the fastest growing economies in the
properties, shortening the period of time and issuing the world.