New incentives to activate privatization program

Egypt's Minister of Investment Mahmoud Mohiedeen said his ministry will take some measures to activate the government's privatization program, as investors who are willing to buy the state-owned companies will be offered some incentives including customs and taxes exemptions to help them increase the would-be industrial establishments' production.

He added that the Cabinet agreed on selling some companies under the umbrella of the investment incentives law which offers customs exemption for 10 years.