Egypt’s GAFI grants golden license to Fayoum Company Warehouses and Storage for EGP 1.3 bn warehouses

Egypt’s General Authority for Investment andFreezones (GAFI) has granted a golden license to Fayoum Company Warehouses and Storage, which will invest EGP 1.3 bn to establish new strategic warehouses in Fayoum with a storage capacity of 75k pallets, according to a GAFI statement. GAFI also handed out three other licenses to Samsung Electronics Egypt, the Egyptian Natural Gas Company (GASCO), and EgyptSat 2.

What is a golden license? The golden license is a comprehensive license for all permits required for the set up, operation and management of companies. The granting of these golden licenses brings the total number to 24 licenses granted so far, GAFI said. Check out Enterprise Egypt’s explainer on how golden licenses work here.