Welcome to China Africa TEDA Investment Co., Ltd

E-mail

OA

China-Africa TEDA Investment Co., Ltd.

Policies and regulations

The Ministry of Trade and Industry is the competent authority for Egypt's foreign trade. The Ministry has jurisdiction over the General Administration of Import and Export Control, the General Administration of Industrial Development, the General Administration of Exhibitions and Conferences, the General Administration of Standards and Quality, the Commercial Representative Office, the Export Promotion Center, the Trade Agreement Bureau, the Export Promotion Bank, the Foreign Trade Training Center and other institutions.

At present, the main laws governing Egypt's foreign trade are the Import and Export Law promulgated in 1975, the Customs Law promulgated in 1963 and the Trade Law in 1999. In 2005, Egypt amended the "Import and Export Law" and "Customs Law" and promulgated the "Implementation Regulations of the Import and Export Law." The Export Promotion Law was enacted in 2002. Egypt became a member of the WTO in 1995, complying with the relevant rules and commitments of the organization.

The main management agency of Egyptian investment is the Ministry of Investment and its subordinate General Administration of Investment and Free Zones. This agency is directly responsible to the Prime Minister and manages foreign-funded projects and free zones. It is specifically responsible for formulating and amending the Investment Law, improving the investment environment, and approving foreign-funded projects., Management and consulting services, external publicity, etc. It is headquartered in Cairo, with branches in all provinces and cities.

The Company Law and its implementing rules promulgated by the Egyptian government in 1981, the Investment Protection Encouragement Law and its implementing rules promulgated in 1997, and the Special Economic Zone Law and its implementing rules promulgated in 2002 are the main investment management laws in Egypt at present. The Company Law applies to all investments; the Investment Protection Encouragement Law applies to domestic and foreign investment in specific industries and sectors, encouraging domestic and foreign investment in Egypt; and the Special Economic Zone Law allows for the establishment of export-oriented special economic zones to carry out industrial, agricultural and other service activities. Also closely related to investment are the 2005 Decision on the Refund of Customs and Sales Taxes on the Re-export of Foreign Goods and the 2007 Decision on Customs Declaration Measures for Persons Arriving and Departing from Egypt. After Sisi took office as president in June 2014, the Egyptian government revised the laws and regulations related to investment, and issued a new investment law in March 2015.

Egypt has a sound tax system and relatively simple tax rates. The main taxes in Egypt include personal income tax, corporate profit tax, real estate tax, development tax, customs duty, sales tax, stamp duty and social insurance premiums. Egypt's tax laws mainly include the Income Tax Law, Law No. 91 of 2005, the Business Tax Law No. 11 of 1991, and the Real Estate Law No. 196 of 2008. Egypt has signed tax treaties with 51 countries.

There are four types of investment areas in Egypt, including industrial zones, new urban areas, special zones and free zones, with policy differences mainly in taxation.

Special Economic Zones (SEZs) were established by Law No. 83 of 2002. The Northwest Special Economic Zone of Suez Bay is currently the only special economic zone in Egypt. It is adjacent to the port of Insuhana at the south entrance of the Suez Canal, 45 kilometers south of Suez City, and the special economic zone covers an area of 20 square kilometers. Enterprises established in the special economic zones enjoy a number of preferential treatments. The China-Egypt TEDA Suez Economic and Trade Cooperation Zone is a national-level overseas economic and trade cooperation zone under the guidance of the Ministry of Commerce of China and promoted by the Tianjin Municipal Government. It enjoys the treatment of special economic zones.