How Egypt encouraged investment into green projects – Egypt Today

How Egypt encouraged investment into green projects – Egypt Today

CAIRO - 16 August 2022: The Egyptian state has put in place a package of incentives to encourage green projects. This includes the fields of alternative energy that depends on abundant solar energy, wind energy, waste management sector, and the sustainable transport sector through the initiatives of the electric car industry, the development and improvement of public transport, and the land management sector that it is concerned with agricultural lands, organic agriculture, reforestation, forests, fresh water and fisheries, which work to improve the quality of soil and produce major crops, and improve air quality and rationalize water consumption. 1- Feed tariff for renewable energy to stimulate private investment in renewable energy. 2- The certificate of the Green Star for tourist hotels, where 92 hotels obtained this certificate. 3- Reducing customs duties on imported electric cars by 10 percent. 4- Investment Law No. 72 of 2017 Regulating Contracts concluded by Public Entities No. 182 of 2018, which provided granting for “projects that depend on or produce new and renewable energy, the agricultural waste recycling industry, as a deduction from the net taxable profits at a rate of 30 percent, a reduction of investment costs. 5- Special incentives for a special tax,