Egypt’s Prime Minister Moustafa Madbouli has underlined the state’s keenness on pushing forward the wheel of economic development in the current stage in accordance with President Abdel Fattah El Sisi’s directives.
During a press conference on Wednesday, the premier said the president directed to accelerate efforts vis-a-vis the golden license issuance file within the framework of efforts to encourage the private sector’s participation in the economic development drive in Egypt.
Under directives of President Abdel Fattah El Sisi with regard to expediting the issuance of the golden license, the cabinet approved in principle nine licenses about one month ago, Prime Minister Moustafa Madbouli said during the press conference.
He said the license is issued through a smart card having a bar code with all needed data, terming this step as important within the framework of encouraging the private sector to boost its activities and create new jobs.
He called for encouraging projects’ owners to file at the cabinet’s specialized committee for projects in order to obtain the golden license.
He said more approvals will be issued for golden license applicants in the coming period.
He said the cabinet is examining all details of the problems facing the industrial sector in order to come up with proper executive measures in accordance with directives of President Sisi.
As for real estate sector challenges, Prime Minister Moustafa Madbouli said the real estate sector is facing the challenge of rising prices of construction materials and shortage of some materials.
He said the government had talks with real estate developers to stand on their requests.
He noted that several important decisions were taken to support the real estate sector over the past period, topped by extending the period of real state development projects by 20 percent.
He stressed the importance of the real estate sector for the Egyptian economy to confront the exceptional conditions.
He noted that at least 20 companies will be listed on the bourse to boost their capital and, hence, their production.
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