Egyptian President ratifies legislation allowing incentives for investors
193 views · Published 3 June 2017 · 4:40 · Indexed 20 September 2026
Channel: CGTN Africa · 2017 · News & Politics
Egyptian president Abdel-Fattah El-Sisi ratified a long-awaited investment law that grants investors a number of incentives including tax breaks.The new investment law will give a 50% tax break on investments made in underdeveloped areas.The government will also support with the cost of connecting utilities to new projects. The legislation brings back private sector free zones, which are exempted from taxes and customs. It will offers 50% rebate to investors on cost of purchasing land for industrial projects if production begins within two years. Egypt's direct foreign investment jumped 39% in the first half of the current fiscal year, ending in June, to reach $4.3 billion. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica
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