Golden License Paves Way for YEG in Egypt

Officially “born” on January 10, Yazaki EDS Egypt – in short YEG − is the first legal entity established under the new Y-EMEA corporate structure. This act marks an important step towards the planned Y-EMEA footprint growth in this country. This was preceded with the Egyptian cabinet granting YEG a Golden License (One Unified License) for the project on December 18, 2022 − and the important Private Free Zone Status approval on December 25, 2022.

The official ceremony for delivering the Golden License followed this week on February 20 at the GAFI premises in Cairo (Government Authority for Investment and Free Zones). Hossam Heiba, President of GAFI in Egypt, had invited Yazaki and 12 other companies to the event − the first ones to ever get such an investment incentive from the Egyptian government. “This license will speed up the process of business launches to further attract industrial and agricultural investments,” Hossam Heiba emphasized.  

Representing Y-EMEA on site, Ahmed Bedewy (left), Head of Yazaki EDS Egypt, received the coveted document directly from the GAFI President: “We are very proud to have earned the Golden License as one of the very first strategic investment projects in Egypt. It is a strong motivation for our project team to proceed with the execution of the next steps in this project,” Ahmed said.