Egypt’s Prime Minister Moustafa Madbouly takes steps towards granting more golden licenses, Invest-Gate reports.

During this week’s cabinet meeting, the cabinet granted four unnamed companies, in the logistics, vaccine manufacturing, auto parts manufacturing, and hotel sectors, initial approval to obtain golden licenses.

Companies will get final approval once they act on unspecified comments from cabinet members at the meeting.

The license allows investors to obtain a single approval that covers everything from establishing a project, including land allocation and building licensing, through to its operation and management.

In 2022, nine-big ticket projects granted the golden license, including a $5.5 bn green ammonia plant in Ain Sokhna.