Investment Law no 72/2017

Law passed

This law was officially approved on 31 May 2017, and entered into force on 1st June 2017. It sets rules in the country for all local and foreign investments, which are placed under one of four regimes: Inland Investment, Investment Zones, Technological Zones and Free Zones.<br><br>Art. 11 on special incentives notably establishes a % tax deduction on net profits, set up at 30% off the investment costs for projects which depend on or produce&nbsp; new and renewable energy. This incentive is subject to conditions are specified by <a href="https://www.gafi.gov.eg/English/StartaBusiness/Laws-and-Regulations/PublishingImages/Pages/BusinessLaws/Investment%20Law.pdf">Prime Ministerial Decree No. 2310/2017</a>.&nbsp;<br><br></div><div>Art. 20 states that renewable energy projects marked as strategic may be granted one approval for the establishment, operation, and management of the project without any further procedure.<br><br>Art. 68 (in section IV) creates the Supreme Council for Investment.