Egypt has prepared a set of tax incentives to encourage investments in green hydrogen projects, its Finance Minister said.

Mohammed Maait told an investment conference in Istanbul on Wednesday that the incentives also include funding facilities for such projects.

In his comments published by the Egyptian daily Al-Ahram, Maait said tax exemptions for green hydrogen projects will range from 33 percent to 55 percent.

“There will also be exemption from value-added taxes on the production and the substances needed for such projects,” the Minister said.

“We also intend to expand the use of green funding tools and also direct around 50 percent of public investments to sustainable and renewable projects.”

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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