| Investment Zones |
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On July 2007, the Egyptian Cabinet passed a new decree 1675 / 2007 that
would allow the establishment of Investment Zones, the new decree allows
private sector (main developer) to establish, develop, promote and manage these
investment zones. Across all business activities industry services, agriculture
and tourism.
Essentially, Investment Zones are sought to promote business clustering and
more private sector involvement in the development process accordingly and in
order to incentivize developers and achieve a bureaucracy free environment
within investment zones, a regulatory board is formed for each investment zones
(as stated by decree) including representatives from the Main Zone Developer(s)
as well as government bodies supervising and licensing activities relevant to
said investment zone, The regulatory board is granted authority by law to
incorporate and license projected within said zone incorporate and license
projected within said zone.
Incentives, Guarantees and Legal Framework
- All manufactured goods within the investment zones will enjoy the rules of
origin necessary for the bilateral and multilateral agreements signed with
Egypt .
- Customs procedures for production input will be administered in the
investment zone rather than in the ports and airports .
- Equipments customs and sales taxes will be paid by installments (5-10
years)
- Sales for exported goods taxes will be fully exempted should it be
exported to international markets.
- A one -stop shop implemented within the zone. Moreover all companies
established under the investment law 8/1997 shall enjoy: Companies established
within investment zones are incorporated in accordance with the investment law
8/1997 or law 159/1981
investment.gov.eg
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