Egypt is a transcontinental country and the most populous nation in the Middle East. The economy of Egypt is one of the most diversified in the region, with sectors such as tourism, agriculture, industry and services at almost equal production levels.
The New Investment Law aims at attracting new investments to Egypt, the key feature of which is the Single Window System, which will apply, and such system unifies and simplifies the procedure and protects investors from bureaucracy. The General Authority for Investment (GAFI) would be the only regulatory authority responsible for the entire procedure and for ultimately issuing licenses for the new projects i.e., the investors will no longer have to deal with multiple parties to obtain their operating license.
Egyptian and foreign investors are entitled to benefit from guarantees and incentives with respect to activities falling under any fields of investment outlined under the Investment Law and its executive regulations (for
e.g., manufacturing, agriculture, trade, education, health, transportation, tourism, housing, sports, electricity & power, water, communication, and technology).
The New Investment Law would result in triggering new investments to Egypt; it would be a very good opportunity for KPMG Egypt to provide its professional services to the new investors (for e.g., assist in establishing the new projects and provide our tax compliance and consultancy services).
MESA Tax Guide
Download Mesa Tax Guide PDF file.
