GAFI offers tax incentives to attract Japanese expertise in automotive industry: Egypt

GAFI offers tax incentives to attract Japanese expertise in automotive industry: Egypt

Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), met with John Karubi, head of the Japanese side of the Egyptian-Japanese Business Council, and head of Toyota Tsusho Automotive Industry. The meeting was held in the presence of Ibrahim El-Araby, head of the Egyptian side of the Business Council and head of the Federation of Egyptian Chambers of Commerce, and Ahmed Sherine, deputy Chairman of GAFI.

Heiba said that the government is interested in attracting new Japanese investments, for its distinguished role in sustainable development and transferring Japanese expertise and technology to the Egyptian market. He also pointed out that this year will witness a government focus on the Japanese market, as the Egyptian-Japanese Business Council will be held next August, and a promotional visit will be organized.

Additionally, in September, the Japanese External Trade Organization (JETRO) will organize a visit by a Japanese businessmen delegation to Cairo to boost trade and investment between the two countries.

The CEO of the Authority discussed the latest developments in Egypt, the most important of which was establishing the golden license unit, which is granted by the Council of Ministers to companies within only 20 days. It is a comprehensive license for