Sisi orders granting the ‘Golden License’ to investors

Sisi orders granting the ‘Golden License’ to investors

Egyptian President Abdel Fattah al-Sisi on Saturday ordered to grant the “Golden License” to all investors applying for it.

This came in his speech during the launch of the first International Manufacturing Convention & Exhibition (IMCE).

Sisi affirmed the state’s keenness to support the private sector, explaining that the state and the private sector are one hand, and work is not done in isolation between them – especially while facing challenges and achieving breakthroughs.

After these statements, citizens wondered about the meaning of the Golden License and how long it takes to benefit from it, which Al-Masry Al-Youm will go over:

What is the golden license?

The Golden License is a single license for all procedures granted to each new project established with the aim of accelerating investment and production activity.

This license does not require approvals from many government agencies, as is the case with the traditional license.

The term goes back to the cabinet meeting that was held on December 23, 2021, where Prime Minister Mostafa Madbouly decided to approve a project to determine the distribution of sub-sectors for investment activities.

After that, the government decided to form a special committee whose main role would be to solve investors’ problems, facilitate the granting of licenses and