Egypt is gearing up to unveil its national industrial strategy in collaboration with an international company on October 25, according to reports. The country’s Minister of Trade and Industry, Ahmed Samir, revealed that this strategy encompasses all industrial sectors and aims to connect Egypt’s industry with global industrial variables. As part of this initiative, Egypt has drafted legislation to extend tax exemptions for certain industries from 5 to 10 years. This draft law is slated to be presented to the House of Representatives in October 2023.
Furthermore, Prime Minister Mustafa Madbouly’s office announced that Egypt will host its National Investment Forum in the first half of 2024. The forum will serve as a platform to showcase the benefits and incentives for investing in Egypt, highlighting key investment opportunities in various sectors and economic activities. The event will facilitate partnerships between government entities and representatives from the private sector, including multinational corporations, financial institutions, investment banks, and global sovereign funds.
In summary, Egypt is proactively working to enhance its industrial sector and attract investment by unveiling a national industrial strategy, extending tax exemptions, and organizing a National Investment Forum to promote economic opportunities and collaborations with private and international stakeholders.
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