{"id":590564,"date":"2023-07-24T00:00:00","date_gmt":"2023-07-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/24\/gennecs-huge-vaccine-plant-four-other-projects-receive-golden-licenses\/"},"modified":"2023-07-24T00:00:00","modified_gmt":"2023-07-24T00:00:00","slug":"gennecs-huge-vaccine-plant-four-other-projects-receive-golden-licenses","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/24\/gennecs-huge-vaccine-plant-four-other-projects-receive-golden-licenses\/","title":{"rendered":"Gennecs\u2019 huge vaccine plant + four other projects receive golden licenses"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Five new golden licenses + financing and social measures get greenlight from <\/strong><strong>cabinet: <\/strong>The Madbouly Cabinet gave its preliminary approval to grant five new golden licenses, in addition to approving several decisions covering higher education, international financing and health at its weekly meeting last Wednesday, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0aYSXFrDs6cdBmBqM9y4VVKcTw86MzD1kZBi5X2kq6be3534bb5zzC2ehc1Y45y1Ml\" style=\"\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s getting the golden licenses? <\/strong>The golden licenses will be awarded to projects in the waste management, health and medical, home appliances, packaging and infrastructure industries. The five projects have a combined investment value of more than EGP 10.2 bn and will create some 5k jobs: <\/p>\n<ul>\n<li><strong>#1-<\/strong><strong>A huge p<\/strong><strong>harma production plant:<\/strong> Local pharma outfit <a href=\"https:\/\/gennecs.com\/gennvax-facility\/\" style=\"\">Gennecs<\/a> plans to invest USD 1 50 mn in its Gennvax factory that will produce medicines, serums and vaccines. The factory, which will be located in the Suez Canal Economic Zone, will produce 300 mn vaccines a year, making it the largest of its kind in the MENA region. It is expected to create between 500-700 jobs. Gennecs General Manager Nibal Dahaba <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f01bc08d-2b31-4f31-8e63-a7b4cba6fa8f\" style=\"\">told us more about the project<\/a> last year. <\/li>\n<li><strong>#2- A home appliances factory:<\/strong> The local arm of Chinese home appli ances giant <a href=\"https:\/\/www.miraco.com.eg\/\" style=\"\">Midea<\/a> <a href=\"https:\/\/www.miraco.com.eg\/\" style=\"\">Electric<\/a> will establish a USD 105 mn factory in Sadat City to manufacture home appliances, providing some 3.1k new jobs. <\/li>\n<li><strong>#3- Fayoum warehouses:<\/strong> Local company Fayoum Company for Storage and Warehouses will receive the license to work on a EGP 1.34 bn p roject to establish new strategic warehouses in Fayoum , providing 600 jobs during construction and 250 jobs at the operational stage. <\/li>\n<li><strong>#4- A packaging plant in Ismailia: <\/strong>Medical supplies manufacturer BALM & Afric a will invest EGP 885 mn to build a packaging plant in Ismailia, which is expected to create up to 350 jobs. <\/li>\n<li><strong>#5- A recycling plant in Minya:<\/strong>EnviroProcess will esta blish a EGP 73.5 mn r ecycling plant for alternative fuels and fibers in Minya, creating some 170 jobs. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The golden licenses: <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d03b6507-b649-4f52-9d7b-1c4bdf41420a\" style=\"\">Golden licenses<\/a> fast-track new industrial and infrastructure projects. Also known as \u201csingle approval licenses,\u201d they allow investors to require only one approval that covers everything from establishing the project, land allocation and building licensing, through to operation and management. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also getting the thumbs up from the ministers: <\/strong>Financing from the <strong> Korean Export-Import Bank <\/strong>for the manufacture and supply of 40 trains and carriages for the Cairo Metro, a grant from the <strong>Spanish Agency for International Cooperation for Development <\/strong>to help overhaul how the agriculture sector uses water, and a preliminary decision to allow a new private university in Al Salam City \u2014 the National Private University for Science and Technology. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The plant is expected to produce 300 mn vaccines a year, making it the largest of its kind in the MENA region<\/p>\n","protected":false},"author":1,"featured_media":590565,"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":[7306],"tags":[282,73,72,10807,2328,10808,2917,7115,125,131,10809,427],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-590564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cabinet-watch","tag-cabinet-watch","tag-education","tag-enterpriseam","tag-fayoum-company-for-storage-and-warehouses","tag-gennecs","tag-gennvax","tag-golden-licenses","tag-healthcare","tag-investment-watch","tag-manufacturing","tag-midea-group","tag-pharma","wpautop","entry"],"acf":{"mongo_id":"2583fa6e-4631-4569-ad50-be28c5a3e0b4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/7\/860.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt fast-tracks huge vaccine manufacturing plant","related_issue":[590552],"teaser":"The plant is expected to produce 300 mn vaccines a year, making it the largest of its kind in the MENA region","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/7\/.e2a49952-a678-4f10-875f-c9d07bb2c56f.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gennecs\u2019 huge vaccine plant + four other projects receive golden licenses - 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\/2023\/07\/24\/gennecs-huge-vaccine-plant-four-other-projects-receive-golden-licenses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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agreements: Prime Minister Moustafa Madbouly and his ministers took steps towards granting more golden licenses and oil agreements at this week\u2019s cabinet meeting, according to a statement.More golden licenses to come: The cabinet granted four unnamed companies \u2014\u2026","rel":"","context":"In &quot;Cabinet watch&quot;","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/34.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577892,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/08\/it-just-got-easier-for-industry-to-get-golden-licenses\/","url_meta":{"origin":590564,"position":1},"title":"It just got easier for industry to get golden licenses","author":"enterpriseam admin","date":"8 December 2022","format":false,"excerpt":"It was all about boosting foreign investment at the cabinet\u2019s weekly meeting, where ministers widened the scope of industrial and automotive investment incentives and approved the first land sale in foreign currency to an unnamed Gulf investor.Companies applying for the government\u2019s golden license for industry will no longer need to\u2026","rel":"","context":"In &quot;Cabinet watch&quot;","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\/12\/156.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":584396,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/30\/egypt-to-ease-payment-terms-for-industrial-land-purchases-plus-bosch-subsidiary-turkeys-beko-get-golden-licenses\/","url_meta":{"origin":590564,"position":2},"title":"Egypt to ease payment terms for industrial land purchases. PLUS: Bosch subsidiary + Turkey\u2019s Beko get golden licenses","author":"enterpriseam admin","date":"30 March 2023","format":false,"excerpt":"Investors will pay a 10% down payment and get a two-year grace period","rel":"","context":"In &quot;Cabinet watch&quot;","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/676.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577781,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/progress-on-golden-licenses\/","url_meta":{"origin":590564,"position":3},"title":"Progress on golden licenses","author":"enterpriseam admin","date":"5 December 2022","format":false,"excerpt":"CUSTOMS-New customs rules aim to clear backlogs at ports: The Customs Authority is obliging importers to submit import approvals from the General Authority for Freezones and Investment (GAFI) before they request an ACID number for their shipments, Al Borsa reports. Importers were previously able to apply for GAFI approval after\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/71.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":658914,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/19\/cabinet-greenlights-egp-30-bn-industrial-initiative-grants-two-multi-mn-projects-golden-licenses\/","url_meta":{"origin":590564,"position":4},"title":"Cabinet greenlights EGP 30 bn industrial initiative, grants two multi-mn projects golden licenses","author":"enterpriseam admin","date":"19 January 2025","format":false,"excerpt":"The initiative aims to provide financial facilities for private sector companies to purchase machinery, equipment, or production lines","rel":"","context":"In &quot;Cabinet watch&quot;","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1167.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":668575,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/17\/three-projects-secure-golden-licenses\/","url_meta":{"origin":590564,"position":5},"title":"Three projects secure golden licenses","author":"enterpriseam admin","date":"17 July 2025","format":false,"excerpt":"The new projects span textiles, agrifood, and renewables","rel":"","context":"In &quot;Cabinet watch&quot;","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1119.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/590564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=590564"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/590564\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/590552"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/590565"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=590564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=590564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=590564"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=590564"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=590564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}