Invest Egypt Your Key to Access The World

Transcription

1 Invest Egypt Your Key to Access The World Promoting Sustainable Investment Forum 5 December 2017 Presented by Munir Jumah GAFI-Ministry of Investment and International Cooperation

2 A Glance at Global Investments FDI Received in 2016* Global investments: $1,746 billion. Developing countries share $646 billion (37%) Arab countries Share: 30.8 billion dollars (1.8%) Three countries represented 79.8% of the Arab total: UAE $9 billion, Egypt $8 billion and Saudi Arabia $7.5 billion *UNCTAD Introduction Why Egypt Economic Indicators Investment Climate االونكتاد Investment 2017 Opportunities * تقرير

3 Billion dollars FDI Net Inflows / / / / / / /17 Source: Central Bank of Egypt

4 Why Egypt? Strategic Location Large Domestic Market 96 Mil. Consumer Free Trade Agreements 1.6 bill. Consumer Trained Technical Personnel Advanced Infrastructure Abundant Natural Resources Diversified Economy High Investment Returns

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6 Economic Growth Real GDP Growth 4.4% 4.3% 4.1% 1.8% 2.2% 2.1% 2.2% 2010/ / / / / / /17 Source: Ministry of Planning

7 Newly Established & Raised Capital Companies 1.9 Billion$ 15,200 newly established companies 3.5 Billion$ 2,035 companies increased paid capital Source: GAFI Fiscal Year

8 Investment Climate Incentives Guarantees Investor Care & Protection

9 Investment Climate Investment Guarantees Equal treatment between foreign and domestic investors Freedom of Product Pricing - Right to Hire Foreigners The right to transfer profits and liquidation abroad without delay Respect and enforcement of contracts - rationalization and regulation of criminal liability for investment Import of raw materials and production line and export of products without registration in the register of importers / exporters Protection from arbitrary administrative decisions and the imposition of custody or confiscation

10 Investment Climate General Investment Incentives Allow foreigners to own 100% of projects and own land and real estate Provide a quick and transparent mechanism for the disposal of land and real estate allocated for investment in various fields of investment (agricultural - industrial - tourism - service - real estate... etc). Access to state-owned land and property free of charge in designated areas A unified customs tax of 2% on machinery and equipment for in-land investment Full customs exemptions for free zones

11 Investment Climate Special Investment Incentives For new companies within three years A tax exemption of up to 50% on investment costs in the developing areas (Zone A ). A tax exemption equal of up to 30% of the investment costs in the more developed areas, up to a maximum of 80% of the paid up share capital (Zone B All other areas) (Labor-intensive projects - small and medium - which depend or produce new or renewable energy - electricity production or distribution-tourism - export projects - industrial)

12 Investment Climate Additional Investment Incentives Strategic Projects By a decision of the Council of Ministers, the companies that establish the establishment of strategic and national projects may be granted a single approval for the establishment and operation of the project without the need for any other action To allow the establishment of customs outlets for the exports and imports of the project with the approval of the Minister of Finance The State shall cover the cost of the technical training of the employees Allocation of land free of charge for some strategic activities The Executive Chairman of the Investment Authority shall issue the certificate necessary for the benefit of the incentives without the need for additional approvals

13 Investment Service Centre Establishment Land Allocation Operating Licenses 13

14 Investment Climate Investor Care & Protection Mechanisms of the Ministry of Investment and the Council of Ministers to resolve disputes Tax Agreements to avoid double taxation 74 Agreements to protect and encourage investments Member of Multilateral Investment Guarantee Agency (MIGA) and the Arab Investment & Export Credit Guarantee

15 Investment Regimes Investment Zones In-land Investment Free Zones Technology Zones

16 Priority Sectors

17 Summary Egypt is officially Africa's no.1 investment destination and the second in the Arab Region. Egypt s diversified economy was a reason for it s growth, in spite of the challenges faced since Continuous reforms along with the new investment law has made Egypt s investment climate attractive to investors. Egypt is an open land for investments from all sectors.

18 Thank You Ministry of Investment and International Cooperation General Authority for Investment and Free Zones Tel : Fax: