{"id":651209,"date":"2017-02-07T04:12:54","date_gmt":"2017-02-07T04:12:54","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/07\/gafi-chairman-mohamed-khodeir-gives-details-on-the-investment-act\/"},"modified":"2017-02-07T04:12:54","modified_gmt":"2017-02-07T04:12:54","slug":"gafi-chairman-mohamed-khodeir-gives-details-on-the-investment-act","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/07\/gafi-chairman-mohamed-khodeir-gives-details-on-the-investment-act\/","title":{"rendered":"GAFI chairman Mohamed Khodeir gives details on the Investment Act"},"content":{"rendered":"<p><strong>Incentives under the Investment Act will last for three years, <\/strong><a href=\"http:\/\/www.youm7.com\/story\/2017\/2\/6\/%D8%B1%D8%A6%D9%8A%D8%B3-%D9%87%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%AD%D9%88%D8%A7%D9%81%D8%B2-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF-%D9%85%D8%A4%D9%82%D8%AA%D8%A9-%D9%84%D9%85%D8%AF%D8%A9-3\/3090920\">Youm7<\/a>quotes General Authority for Investment and Free Zones (GAFI) Mohamed Khodeir as saying. He added that these incentives have been made deliberately short to encourage speedy development of projects. The <a href=\"https:\/\/enterprise.press\/stories\/2017\/01\/02\/govt-approves-investment-law-draft\/\">draft<\/a>of the law which was shopped to the public had set a five-year timeline for the incentives. Ditto the <a href=\"https:\/\/enterprise.press\/stories\/2016\/11\/02\/supreme-investment-council-adopts-17-pro-investment-policies\/\">Supreme Investment Council\u2019s incentives<\/a>, which also suggests that the new investment incentives program will last for five years. It is unclear whether these were changes to the law recommended by the Egyptian Council of State (which recently completed a review of the law) or the Investment Ministry. Khodeir was coy on the subject, stating that the changes made by the Council were not major without stating what these were.<\/p>\n<p>As for private free zones, Khodeir also <a href=\"http:\/\/www.alborsanews.com\/2017\/02\/06\/%D8%AE%D8%B6%D9%8A%D8%B1-%D9%85%D9%84%D8%A7%D8%AD%D8%B8%D8%A7%D8%AA-%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A9-%D8%B9%D9%84%D9%89-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84\/\">said<\/a> that t<strong>here is consensus against establishing new private free zones<\/strong>, many of which have turned into graft havens, and have thus been excluded from the legislation (this has the Finance Ministry's fingerprints all over it).<\/p>\n<p><strong>In a bid to sell the faltering one-stop shop policy<\/strong>, Khodeir said that land is being tendered jointly by different government bodies without delays to the investor. He can only be speaking recently, as all of 2015 and 2016 show this not to have been true. In any case, he still does not address the conflict between the policy and other legislation granting other authorities the right to tender land on their own. But thanks anyway. On a related note, <strong>GAFI\u2019s investment promotion company<\/strong>, which was sanctioned by the Supreme Investment Council, will be established this month, <a href=\"http:\/\/www.alborsanews.com\/2017\/02\/06\/%D8%AE%D8%B6%D9%8A%D8%B1-%D8%AA%D8%A3%D8%B3%D9%8A%D8%B3-%D8%B4%D8%B1%D9%83%D8%A9-%D8%A7%D9%84%D8%AA%D8%B1%D9%88%D9%8A%D8%AC-%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D9%8A%D8%A9-%D9%86%D9%87%D8%A7%D9%8A\/\">Al Borsa<\/a> reported.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Incentives under the Investment Act will last for three years, Youm7quotes General Authority for Investment and Free Zones (GAFI) Mohamed Khodeir as saying. He added that these incentives have been made deliberately short to encourage speedy development of projects. The draftof the law which was shopped to the public had set a five-year timeline for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-651209","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"3c52fbe2-7f77-4f4a-bef9-2008efa50012","order":"0","is_powered_by":true,"section_story_id":"f6881213-f28c-4738-84f8-4fe2d3360bd7","story_type":"1","photo_url":"","photo_position":"above","related_issue":[651198],"teaser":"","voice_url":""},"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>GAFI chairman Mohamed Khodeir gives details on the Investment Act - 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\/2017\/02\/07\/gafi-chairman-mohamed-khodeir-gives-details-on-the-investment-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GAFI chairman Mohamed Khodeir gives details on the Investment Act\" \/>\n<meta property=\"og:description\" content=\"Incentives under the Investment Act will last for three years, Youm7quotes General Authority for Investment and Free Zones (GAFI) Mohamed Khodeir as saying. He added that these incentives have been made deliberately short to encourage speedy development of projects. The draftof the law which was shopped to the public had set a five-year timeline for [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/07\/gafi-chairman-mohamed-khodeir-gives-details-on-the-investment-act\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-07T04:12:54+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/07\/gafi-chairman-mohamed-khodeir-gives-details-on-the-investment-act\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/07\/gafi-chairman-mohamed-khodeir-gives-details-on-the-investment-act\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"GAFI chairman Mohamed Khodeir gives details on the Investment Act\",\"datePublished\":\"2017-02-07T04:12:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/07\/gafi-chairman-mohamed-khodeir-gives-details-on-the-investment-act\/\"},\"wordCount\":283,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/07\/gafi-chairman-mohamed-khodeir-gives-details-on-the-investment-act\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/07\/gafi-chairman-mohamed-khodeir-gives-details-on-the-investment-act\/\",\"name\":\"GAFI chairman Mohamed Khodeir gives details on the Investment Act - 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The changes to the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648070,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/28\/zawbaa-replaces-khodeir-as-gafi-chief\/","url_meta":{"origin":651209,"position":1},"title":"Zawbaa replaces Khodeir as GAFI chief","author":"enterpriseam admin","date":"28 May 2017","format":false,"excerpt":"MOVES- Dr. Mona Zawbaa has replaced Mohamed Khodeir as the head of the General Authority for Free Zones and Investment (GAFI), according to a statement (pdf) from the Investment Ministry. Zawbaa was deputy head of GAFI under Khodeir. The decision was made at a GAFI board meeting headed by Investment\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651737,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/khodeir-denies-resigning-as-chairman-of-gafi\/","url_meta":{"origin":651209,"position":2},"title":"Khodeir denies resigning as chairman of GAFI","author":"enterpriseam admin","date":"20 February 2017","format":false,"excerpt":"GAFI boss denies he resigned: Mohamed Khodeir, Chairman of the General Authority for Investment (GAFI), has denied resigning, according to Ahram Gate. 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The authority has yet to decide on a location, but is reportedly considering setting up shop in Upper Egypt. 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