Egypt’s President Sisi gives investor applicants three-month golden license

CAIRO – 21 October 2022: President Sisi inaugurates a number of projects of the National Initiative for Industrial Development “Start,” giving a three-month golden license to investor applicants to facilitate procedures for establishing priority projects for the state.

According to this license, investors will obtain a state’s single approval that enables them to buy/rent lands, operate, and manage the projects. The license could be extended for additional three months in case of achieving progress.

“One trillion Egyptian pounds will be spent on Decent Life Projects,” the President said, adding that “What is happening now in the world indicates that the trade movement is being reshaped and that Egypt has an opportunity to be as a factory [depends on] with its production and operating costs.”

President Sisi attended on Saturday morning the launch of the first international forum and exhibition for industry organized at Al-Manara International Conference Center in New Cairo.

The forum is organized by the Federation of Egyptian Industries (FEI) on the occasion of the 100th anniversary of founding the federation, Presidential Spokesman Bassam Radi said in a statement on Friday.

The exhibition, held under the auspices of President Sisi, is set to include a number of huge pavilions for diversified industries, especially the sectors of engineering industries and machinery manufacture, the statement added.