Egypt grants 9 golden licenses for strategic investment projects

Ahram Online , Thursday 2 Jan 2025

Egypt's Ministry of Investment and External Trade has granted nine golden licenses to strategic investment projects across various sectors, according to a statement released by the Egyptian cabinet on Wednesday.

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Golden license. Al-Ahram

 

This move is part of Egypt’s ongoing efforts to attract local and foreign investments by streamlining processes for investors.

The Golden License, introduced under the 2017 Investment Law and officially implemented in September 2022, allows investors to acquire or lease land and operate businesses without further government approvals.

It, also called the "single approval license," aims to simplify bureaucratic procedures and accelerate investment in key sectors.

Among the key projects receiving the golden license is Arab Otsuka Nutraceuticals Company, which will establish a $40 million factory in the 10th of Ramadan City. Spanning 95,000 square metres, the facility will manufacture nutritional products for local and export markets, creating 100 job opportunities while introducing Japanese expertise and technology to Egypt.

In another strategic project, the Suez Warehouses Company will construct a strategic warehouse on 13-acre land in the Suez Governorate, investing approximately EGP 1.99 billion. The facility will strengthen Egypt’s reserves of essential goods and create 75 job opportunities.

In the renewable energy sector, Suez Wind Energy will invest approximately EGP 1.4 billion to develop wind power stations. The project will generate 550 MW in its first phase, with an additional 550 MW planned for the second phase, significantly boosting Egypt's renewable energy capacity.

The Egyptian Minerals and Salts Company, based in Fayoum Governorate, will invest EGP 604 million in a facility to produce 30,000 tons of potassium sulphate annually. Spanning 5,600 square metres, this project will generate 100 job opportunities and support local agriculture.

License for major agricultural export projects
 

Located in the 10th of Ramadan City, Nuts Land will invest approximately EGP 1.4 billion to process peanuts and nuts over a 136,000-square-metre area. The project is expected to create 4,000 jobs and export 80 percent of its production, further enhancing Egypt’s position in international markets.

MAFI for Agricultural Products will invest $180 million in a facility in Sadat City to manufacture and package agricultural products. Covering 154,000 square metres, this project will create 720 jobs and export 100 percent of its output, contributing to the growth of Egypt’s agricultural exports.

Balkan Food Industries will establish a factory in New 6th of October City to produce tomato concentrates, sauces, and processed vegetables. With an investment of EGP 850 million over 76,000 square metres, the project will export 80 percent of its production and create 80 job opportunities.

FutureFert for Fertilizer & Chemical Industries, located in Ain Sokhna, will invest $40 million in a facility to produce potash and phosphate fertilizers and inorganic acids. Spanning 127,000 square metres, the project will employ 300 workers and support Egypt’s growing chemical industry.

Lastly, Obelisk PV Power Plant and BESS will invest $600 million in a 16.3-square-kilometre solar energy project in Qena Governorate. The facility will generate 1,000 MW of photovoltaic solar energy and create 100 job opportunities, further advancing Egypt’s renewable energy goals.

These projects represent a significant step in Egypt’s ongoing efforts to promote economic development, create jobs, and enhance the country’s industrial and renewable energy capacities.

In December 2024, the Egyptian cabinet approved Abydos for Renewable Energy's request for a golden license for its photovoltaic power generation project in New Benban, Aswan Governorate.

In March 2024, Egypt granted six companies golden licenses for projects worth EGP 5.6 billion (just over $117 million).

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