New Incentives to Settle Disputes with Investors

Chairman of the General Authority for Investment and Free Zones (GAFI) Osama Saleh announced, in a statement to "Al-Gomhuria" newspaper in 03/03/2012 that the authority decided to offer several incentives to investors in the current and coming period in order to encourage them to invest in Egypt.

Saleh pointed out that in view of the circumstances Egypt is currently witnessing; the authority has adopted many new incentives that will encourage investors to invest in Egypt and increase investments in the country, including: - Cancelling the obtaining of a preliminary approval for the industrial activity from the General Authority for Industrial Development. - Finalizing procedures of branches of foreign companies within "72" hours, while transferring services from the Commercial Registry Office to GAFI. - Finalizing procedures of foreign representative offices within "72" hours. - Operating phase II of e-establishment of companies. - Establishing offices for GAFI in various governorates.