Egypt’s Prime Minister Mostafa Madbouli on Tuesday issued a number of decisions to offer incentives to investment activities pertaining to the green economy, artificial intelligence, innovation, scientific research projects as well as promotion of local industry.
The decisions stipulated distributing the sub-divisional investment activities in the sectors of electricity, renewable energy, education and sports in accordance to the geographical area which involves two categories of incentives named “A” and “B”.
The electricity and energy sector included projects for the production, storage and exportation of green hydrogen and ammonia.
As per the education sector, the investments will comprise projects of establishment, running and operation of schools as well as technical institutes along with the establishment of new universities.
The decisions set a condition that the investment projects of top priority, which are designated to enjoy additional incentives, have to be working in fields which contribute to achieving economic development to the state, in addition to green ventures which take into consideration the environmental dimension and realize a sustainability of natural resources.
The premier’s decisions also imposed on all state bodies concerned with receiving applications from investors to establish any relevant projects or expand existing ones to reply within a period of 20 working days on a condition that all documents must be submitted.
