Egypt has drawn new investment zones wherein there will be established administrative offices that operate on the one-stop-shop system.
These administrative offices will have broad authorities to issue licences and, according to Minister of Investment Ashraf Salman.
Salman stated at the second high board meeting of the General Authority for Investment and Free Zones (GAFI) that expanding investment zones allows investors easier access to the Egyptian market.
According to a statement from the Ministry of Investment, the board of directors approved creating workshops which aim to achieve a number of missions and assignments. The suggestions would help reach an attractive investment environment and favourable business climate in Egypt.
The meeting was headed by Ashraf Salman, and GAFI’s CEO, with the attendance of the board of directors, as well as Mohammed El-Sweidi, Head of the Federation of Egyptian Industries.
Moreover, the meeting discussed several issues, including providing industrial zones with trained labour and allocating lands for different economic activities, as well as proving them with the necessary infrastructure and licences.
Those in attendance also discussed alternative funding sources, means to simplify the laws governing economic activity in Egypt, and completing a comprehensive land database which includes basic information, such as location, price, area, and suggested investment for the plot of land.