Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), announced the release of the official guideline for the new cash investment incentive dedicated to industrial projects. The initiative reflects the government's commitment to transparency, clarity, streamlined procedures, and accessible information for investors. Heiba confirmed that the guideline is now available to all investors and can be accessed via the email link: [email protected]. He added that the committee responsible for administering the incentive has begun receiving applications through the same channel. According to Heiba, the incentive represents one of the most significant mechanisms for attracting foreign direct investment, as it provides eligible investors with a direct cash payment disbursed after taxes are paid. The value of the incentive is linked to the volume of foreign financing allocated to the project, which must account for at least 50% of the project's total capital. In addition, eligible projects must ensure that industrial products listed in the schedule attached to the Cabinet decision represent no less than 50% of their annual turnover. GAFI previously issued Decision No. 675 of 2025 establishing the committee tasked with granting the cash investment incentive for industrial projects. The committee is chaired by a GAFI representative and includes members from the Industrial Development Authority, the Industrial Modernisation Centre, the Ministry of Finance, the Ministry of Industry, the Central Bank of Egypt, and the Egyptian Tax Authority. The committee's responsibilities include assessing applications, issuing decisions, granting eligibility certificates, providing annual approvals for incentive disbursement, and issuing preliminary approvals in accordance with Cabinet Decision No. 77 of 2023. Heiba noted that, consistent with the state's strategy to support the industrial sector, localize manufacturing, and enhance the competitiveness of Egyptian products as a driver of economic growth, Law No. 160 of 2023 was enacted to amend certain provisions of the Investment Law. The amendment added Article 11 (bis), which provides industrial investment projects with a cash incentive without affecting other incentives already granted by the law. Cabinet Decision No. 77 of 2023 further defined the requirements, controls, and criteria for implementing the incentive—from eligibility conditions and classifications to disbursement and oversight mechanisms. The decision also allows industrial projects to obtain a preliminary approval valid for three years, giving investors added assurance that they will receive the incentive even if regulatory changes occur during the implementation period.
