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Monday, 15 June 2020

SCZone working on new investor incentives, legislative amendments

LEGISLATION WATCH- SCZone working on new incentives for investors, amendments to special economic zones law: Officials from the Suez Canal Economic Zone (SCZone) are working with the government to introduce new incentives for investors through changes to the executive regulations of a law governing special economic zones, SCZone head Yehia Zaki said during a meeting with the House Economic Committee. A mixture of non-tax incentives and custom breaks could be on the cards, Zaki said, without providing specifics.

There’s a chance the legislation could get House approval this month: Draft legislation could be presented to the House in the coming two weeks, Al Masry Al Youm reported Zaki as saying. The SCZone first approached the cabinet with the plan in April.

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