Chairman of the General Authority for the Suez Canal Economic Zone, Walid Gamal El-Din Suez, and Hossam Ahmed Heiba, CEO of the General Authority for Investment and Free Zones, witnessed the handing over of the golden license to 4 companies, namely: BLM & Africa Company for the manufacture of medical bandages, Red Sea Wind Energy, and Genafax Egypt. To manufacture and trade serums, which will operate in the industrial zone in Sokhna soon, and Chinese Media about the expansion of production lines in Sadat City.
Walid Jamal Al-Din explained that the golden license comes within the framework of keenness to provide an attractive and encouraging investment environment, stressing the importance of overcoming obstacles to investment. He added that the projects that were granted the golden license today come within the framework of the industrial sectors targeted within the authority’s plan.
For his part, Hossam Heiba said that the “golden license” includes more facilities in the procedures for obtaining various licenses for investment projects, stressing that investment opportunities are equally available to everyone, and that the current plan within the vision of the Egyptian state is based on improving the work environment and climate. Investment and overcoming any obstacles facing investors, as well as focusing on national investors and working to promote investment in Egypt to attract foreign investment, noting that the golden license was issued for a number of different investment projects recently.
As for the companies that have obtained the golden license within the economic zone, the Genafax factory for manufacturing vaccines and serums, which is planned to be established in the industrial zone in Sokhna, is located within the industrial developer Orascom, on an area of 50 thousand square meters with an investment volume of 150 million dollars, aiming to produce one million doses annually that will be fully exported to the local market to reduce the import bill in This sector will also provide approximately 500 direct job opportunities.
A golden license was also granted to Midea for its expansion in Sadat City. It is noteworthy that the dishwasher production line was recently opened within the Sokhna Industrial Zone affiliated with the Suez Canal Economic Zone on an area of 60 thousand square meters, within the scope of the industrial developer TEDA Egypt, which has a production capacity of 1.5 million. washing machine annually, at an investment cost of $25 million. The factory has provided 270 job opportunities, out of a total of 1,500 job opportunities over the course of future expansions.
It is worth noting that the golden license is a single approval to establish, operate and manage the project, including building permits, and facilitates the work of companies to begin implementing their projects directly with a single approval to operate the project without disruption. The license may be granted to companies that establish strategic or national projects aimed at achieving sustainable economic development. For countries and companies that establish partnership projects between the private sector and the state, in order to implement the state’s strategy in supporting investment and raising employment and employment levels.