The Egyptian government on Sunday canceled preconditions for forming companies working in Egyptian media.
The General Authority for Investment and Free Zones has canceled requirements that media companies obtain the approval of security services before issuing a newspaper.
“Those security procedures used to take a long time,” said Authority Director Osama Saleh. “We aim to encourage local and foreign investments.”
Required approval of the General Authority for Industrial Development for new investment projects was also canceled, and the registration period for newly formed companies was reduced from six months to three days.
Translated from the Arabic Edition