GAFI, the General Authority for Investment and Free Zones, granted 13 firms the golden licenses, a new experiment aimed at improving the business climate in Egypt.
The golden license is a single license granted to new investment projects in order to accelerate the operation, management, and allocation of the necessary facilities and approvals with just a single approval unlike regular licenses which require approvals from several departments and much more paperwork.
These were the 13 firms that GAFI granted the golden licenses: Yazaki Electrical Distribution Systems Company, Al Arabi Group of Companies and Factories for Electrical and Home Appliances, SE Waring Systems Egypt Company, Hyper Electric Egypt Limited Company, Grifolls Egypt Company for Plasma Derivatives, Misr Green Hydrogen Company, Misr Green Ammonia Company, Vaccines and Biotechnology City Company , CFC Feed and Chemicals Company, YOVAC Vaccines Company, Hassan Allam Contracting Company, Bloom Real Estate Development Company, and the National Company for Transportation Industry and Agricultural Development.
Two types of businesses are eligible for the license: those that contribute to sustainable development and those that establish partnership between the private and public sectors.
Golden licenses aim to reduce much of the long time usually needed to obtain regular permits to start projects, it also grants investors approval to operate their projects in a one-step approval to promote investment in Egypt.
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