Egypt's Minister of Investment Hassan El-Khatib has issued six new golden licences for strategic investment projects, the government said in a statement on Monday, as part of efforts to boost domestic and foreign direct investment. The golden licences were granted to companies operating in sectors including renewable energy, manufacturing, and packaging, with combined investments exceeding $1 billion. Among the recipients is COFICAB Egypt, a manufacturer of electrical wires, which will build a $40 million facility in the 10th of Ramadan Industrial Zone. The project is expected to create 267 jobs. Abydos for Renewable Energy received a licence for a $850 million project on a 20-square-kilometre site in Aswan Governorate, projected to generate about 4,000 jobs. Lesaffre Egypt, a baking solutions manufacturer, plans to invest €120 million in a plant on a 43,755-square-metre site, creating roughly 130 jobs. Huhtamaki Egypt will produce moulded fibre packaging in Sadat City, Menoufia Governorate, with an investment of 1.47 billion Egyptian pounds. The project is expected to create 61 jobs. Xinxing, a cast iron component manufacturer, will invest $145 million in a facility in Ain Sokhna, Suez Governorate, employing around 700 workers. Yada Egypt, a division of PADMA group one of the most modern and largest plants in the furniture industry in Poland, will establish operations in New Alamein City, Matrouh Governorate, with a €70 million investment, creating approximately 6,350 direct and indirect jobs. The golden licence mechanism, launched in 2022, streamlines approvals for strategic and national projects, offering a one-stop authorisation to speed up implementation. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
