Egypt Seeks to Improve Business Climate, Eases Rules to Woo Investors, an Industrial Info Market Brief

Improving the business climate and wooing foreign investors are top priorities for Egypt, as now they have introduced new regulations that limit levies and drop the mandate requirement to form joint ventures with the government. Egypt hopes that gold production can be a future source of economy growth, as most of its mineral wealth remains largely underexplored and undeveloped. This has led the government to take a series of initiatives to facilitate private and foreign investment. The industry is anticipating the swift awarding of sites under new regulations. IIR is tracking seven gold mining projects in Egypt worth $2.06 billion.