Prime Minister Issues Decree Allowing Temporary Exit Of Tools And Machinery From Free Zone

On March 25, 2024, the Prime Minister issued Decree No. 24 of 2024 introducing regulations governing the temporary exit of tools and machinery from the free zone to the country (the "Decree"). The Decree replaces the previous Decree No. 1689 of 2005 (the "Old Decree") with respect to cases, guarantees, conditions, and procedures governing the temporary exit of tools and machinery from the free zone to the country and their return.

The Decree allows the temporary exit of tools, machinery, equipment, and specialized transportation devices from the free zone to outside that free zone in Egypt. This temporary exit can be for various purposes, including, inter alia, use by the project itself or for leasing to other entities. However, the Decree imposes specific regulations to govern this possibility and ensure responsible utilization as follows: