Egypt - All projects in Egypt’s free zones are allowed to offer 50% of their production in the local market, the CEO of General Authority for Investment and Free Zones (GAFI) announced in April 9th statement.

For a six-month period, the companies can sell any of their products except banned items.

In addition, industrial projects at free zones can also offer 20% of their stock, including raw materials as well as production supplies and accessories.

This will be subject to the head of the free zone’s approval, yet selling more than the set amount must be approved by GAFI’s chairman.

Furthermore, all entitled projects are granted a six-month grace period to renew their insurance on assets. They will also be granted a period of six months to claim any increase in financial guarantees.

All financial statements of Egypt’s free zones projects will be granted an additional three months to submit them starting from the original disclosure date.

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