Egyptian Cabinet agrees to granting Gold License to 8 projects

Egyptian Cabinet agrees to granting Gold License to 8 projects

The Egyptian Cabinet has agreed to grant the Gold License to eight projects that requested to get the licenses from the General Authority for Investment and Free Zones (GAFI), according to an official statement on December 14th.

The first Gold License was granted to Haier Egypt Limited for the establishment of an industrial complex for the production of electronics in the industrial zone located in the west of the 10th of Ramadan city at an investment cost of $135 million, offering jobs for about 1,000 workers, technicians, and managers.

The second project to obtain the license is the manufacture of automotive power distribution systems project to be set up by Yazaki Egypt as per the private free zone system in Faiyum governorate at a cost of $30 million, offering 3,000 jobs.

SE Wiring Systems Egypt received the third license for its project to manufacture all kinds of vehicles’ electric wires at the South investors Area in the 10th of Ramadan city, with €100 million in investments. The project is expected to offer up to 10,000 jobs.

Al Araby Group for Industrial Development and Trade received the fourth license for building and operating a plant for manufacturing and assembling home appliances and electronics at a