Egypt: economic and social survey 1996/97

Abstract

Activities in the same project would enjoy exemptions for a period of 20 years; (vi) approval of the Investment Authority to remove restrictions on the importation of raw materials and requirements of industrial production directly from Egyptian free zones; (vii) a Presidential Decree 162 of 1997 increased annual limits of family allowances and passed a number of tax cuts for sole traders, partnerships etc. Privatization that started in 1994 remained on dynamic track during the period 1996-1997. By the end of 1996 the total number of companies privatized either completely or with majority/minority stakes increased to 32 companies as compared to a total of 19 companies by 1996. This number was expected to have risen to 52 companies by the end of 1997.