Incentives under the Investment Law - Cabinet Decree 20 from 2022

Country / jurisdiction: Egypt · Year: 2022 · Status: In force · Level: National · Type: Voluntary

The Investment Law provides the legal framework for both local and foreign investment in Egypt. Article 20 defines that companies and projects in strategic sectors can receive a single license for the estabilshment, operation and management of the project. The Cabinet Decree 20 from 2022 explicitly identifies production, storage and export of renewable hydrogen and ammonia as areas of strategic importance (benefiting from Article 20) Article 11 of the Investment Law defines two geographical zones where projects can be receive 30-50% deduction of their taxable income and up to 80% of the paid-up capital at the time of commencement of the project (called Special Incentive). Cabinet Decree 981 from 2022 recognizes production, storage and export of renewable hydrogen and ammonia as industrial sectors that can benefit from the Special Incentive

Official source: https://www.globalcompliancenews.com/2022/04/08/egypt-green-hydrogen-and-green-ammonia-projects-to-benefit-from-state-support240322/