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Egypt's efforts to attract new businesses, following sweeping reforms, appear to be paying off, with a twentyfold surge in the number of new industrial licenses issued since laws were changed a year ago, a top official said.The authority has issued 8,400 licenses versus 340 the year before.A 2016 decision to lift currency restrictions and cut fuel subsidies was heralded by the International Monetary Fund, which finalized a $12 billion loan for Egypt that paved the way for an influx of foreign money.
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