Dr. Mostafa Madbouly, the Prime Minister, held a meeting this evening; to review the incentives that the government is planning to give to green economy projects, in the presence of Dr. Hala Al-Saeed, Minister of Planning and Economic Development, Dr. Yasmine Fouad, Minister of Environment, Engineer Yahya Zaki, President of the General Authority for the Suez Canal Economic Zone, and officials of the ministries of planning and environment, the General Authority For Investments and the Sovereign Fund, and The Egyptian Regulatory Reform Activity (ERRADA).
At the beginning of the meeting, the Prime Minister confirmed that the government is working on launching the incentives concerning green economy projects;
In this regard, the Minister of Planning and Economic Development indicated that indeed there is cooperation and coordination with a number of ministries and authorities with the aim of developing a vision for the set of incentives to be implemented, aiming to encourage investment in these projects.
Ambassador Nader Saad, the Official Spokesman of the Prime Minister, said that the meeting involved a review of the incentives prepared by the government for green economy projects, which aim to attract more foreign investments in this important sector.
He added that these projects contribute in reducing environmental pollution, reducing emissions, waste management and recycling, as well as clean transportation projects, sustainability and rationalization of the use of energy and water, and environmental friendly products.
Ambassador Nader Saad added: “these projects also include sustainable agriculture projects, sustainable fish farms, biodiversity conservation, and coastal protection, as well as new and renewable energy projects.”
The Official Spokesman of the Prime Minister explained that the meeting involved a review of the most important international experiences in providing incentives for green economy projects, which included tax exemptions or reductions, as well as non-tax incentives.
At the end of the meeting, the Prime Minister assigned to prepare a memorandum of proposed incentives for green economy projects, to be presented to the Cabinet for approval and announcement.