During a recent press conference  to announce the government’s vision to deal with the current global economic crisis, Prime Minister Mostafa Madbouly stated that Egypt is on track to becoming a major center for the production of future energy represented by green hydrogen and green ammonia.

The government had signed during the last period several memoranda of understanding (MoUs) with some of the largest international companies in this field, which pledged to inject investments of up to more than $40 billion by 2030 in order for Egypt to become a center for the production of green hydrogen.

Madbouly indicated that a package of diverse and new incentives will be launched, including incentives related to the investment law, green incentives, and investment incentives in the health sector, in addition to activating the golden license, in which the Prime Minister issues a single license that obligates all approvals and requirements issued from other parties.

In turn, the state identified the type of projects that will enjoy additional new incentives during the coming period, Madbouly noted, pointing out that the previous period witnessed almost daily the signing of MoUs with major companies and global alliances.