{"id":544604,"date":"2022-03-13T03:49:27","date_gmt":"2022-03-13T03:49:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/13\/govt-has-incentives-for-green-economy-ai-and-other-priority-sectors\/"},"modified":"2022-03-13T03:49:27","modified_gmt":"2022-03-13T03:49:27","slug":"govt-has-incentives-for-green-economy-ai-and-other-priority-sectors","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/13\/govt-has-incentives-for-green-economy-ai-and-other-priority-sectors\/","title":{"rendered":"Gov\u2019t has incentives for green economy, AI and other priority sectors"},"content":{"rendered":"

<\/a> A first look at new incentives to spur investment in emerging sectors: <\/strong>The Madbouly government is introducing incentives to spur investments in the green and AI sectors, according to a statement<\/a>. Ministers approved the incentives last week, after they were put forward by General Authority of Investment and Freezones (GAFI) CEO Mohamed Abdel Wahab. While details are so far scant, the incentives include:<\/p>\n

#1- Tax incentives: <\/strong>The government will grant tax breaks to projects for the production, storage and export of green hydrogen and green ammonia<\/strong>, as well as for projects to manufacture alternatives to single-use plastics<\/strong>.<\/p>\n

#2- Non-tax incentives for AI, green, and manufacturing projects. <\/strong>GAFI will start implementing non-tax incentives laid out in the Investment Act<\/a>, especially for projects in the AI, green, and manufacturing industries.<\/p>\n

#3- Prioritizing strategic sectors: <\/strong>Projects in green hydrogen, green ammonia, EV manufacturing and charging, plastics alternatives, and waste management \u2014 all considered priorities for our development strategy \u2014 could be fast-tracked through the approvals process, after Cabinet approved a separate prime ministerial decision, the statement read.<\/p>\n

#4- Faster approval process for investment proposals:<\/strong> Authorities must now make a decision on any approvals, licenses or permits necessary for investment projects and inform applicants of the outcome within 20 working days of receiving a request. GAFI will follow up on applications with any authorities who don\u2019t meet the new deadline.<\/p>\n","protected":false},"excerpt":{"rendered":"

A first look at new incentives to spur investment in emerging sectors: The Madbouly government is introducing incentives to spur investments in the green and AI sectors, according to a statement. Ministers approved the incentives last week, after they were put forward by General Authority of Investment and Freezones (GAFI) CEO Mohamed Abdel Wahab. While […]<\/p>\n","protected":false},"author":1,"featured_media":544605,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[7094,72,1130,125,131,871],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-ai","tag-enterpriseam","tag-green-energy","tag-investment-watch","tag-manufacturing","tag-regulation-watch","wpautop","entry"],"acf":{"mongo_id":"ae23b8fb-b6ae-4d6c-846a-880e5605e5e2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/3\/144.jpg","photo_position":"above","related_issue":[544594],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t has incentives for green economy, AI and other priority sectors - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/13\/govt-has-incentives-for-green-economy-ai-and-other-priority-sectors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t has incentives for green economy, AI and other priority sectors\" \/>\n<meta property=\"og:description\" content=\"A first look at new incentives to spur investment in emerging sectors: The Madbouly government is introducing incentives to spur investments in the green and AI sectors, according to a statement. Ministers approved the incentives last week, after they were put forward by General Authority of Investment and Freezones (GAFI) CEO Mohamed Abdel Wahab. 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Under proposed amendments to the 2017 Investment Act,\u2026","rel":"","context":"In "Cabinet watch"","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/302.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":604364,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/02\/keep-an-eye-out-for-a-new-limited-set-of-tax-incentives-for-fresh-investment\/","url_meta":{"origin":544604,"position":4},"title":"Keep an eye out for a new, limited set of tax incentives for fresh investment","author":"enterpriseam admin","date":"2 December 2018","format":false,"excerpt":"Keep an eye out for updates on the set of tax incentives for fresh investment in a limited list of sectors. 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