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Egypt issues 8 gold licenses within 3 weeks

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The representative of the Egyptian Council of Ministers, Nader Saad, announced that the Council issued 8 gold licenses, which is a relatively large number, in just 3 weeks.

Saad indicated in television statements that a number of other applications for gold licenses were being considered.

He pointed out that the state ownership policy document aims to strengthen the role of the private sector and its integration into economic activity.

Nader Saad said that the state is working to empower the private sector and exit some activities, which will increase the volume of competitiveness, which will lead to lower prices, as well as an increase in exports.

The gold license is considered one of the economic incentives for attracting investment to the state, and the Masrawy website states that the gold license is obtained through the General Investment Office.

The Golden License is granted to companies that create strategic or national projects for the development of the country, as well as projects that participate together with the private sector in the activities of public utilities and infrastructure.

Companies that receive a gold license receive one permit to establish, operate and manage the project, as well as licenses to build the project and allocate necessary facilities for it.

Permission to obtain a gold license is granted by the government without the need to take any other action.

In another context, he stressed that there was a lot of news in the Prime Minister’s speech during his inspection tour that gives confidence to the Egyptian people, as he stated that there is a plan to guarantee the availability of dollar resources throughout the year.

He added that the wheel of release of goods from the ports has been started and will not stop, and work will be done to complete them before the start of Ramadan, so that there is an abundance of supply of goods and prices fall.

The cabinet spokesman continued by saying, “There will be an abundance of commodities in the coming period, as the state has stockpiles of strategic commodities.”

Source: Egyptian media.

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