The gold license website, which President Abdel-Fattah El-Sisi unveiled in October, includes a list of requirements, regulations and regulations for potential investors.
Two types of joint-stock companies are eligible for licensing: those that make a contribution to sustainable progress in accordance with the State’s economic progress plan; and those that identify a partnership between the personal and public sectors, or between the personal sector and any government-affiliated entity. Examples of these come with projects involving utilities and infrastructure, renewable energy, roads and transportation, ports and communications, and data. technology.
Although the company first stated that applicants had to be limited liability companies (LLCs) or corporations with an initial capital of at least 20% of the total cost of the project, it later rescinded that condition.
Instead, corporations must provide evidence of monetary liquidity, the company said in a separate statement.
The adjustment came after several potential investors complained about difficulty raising seed capital, adviser Mohamed Abdel-Wahab, director general of the General Authority for Investment and Free Zones (FATF), said a cabinet said Wednesday afternoon.
Eight of the 12 projects submitted have been approved through a commission and are awaiting approval through the Council of Ministers.
The release of the golden license is part of the State’s medium-term exit plan to establish a regulatory framework between the State and the private sector.