| Work Detail |
These meetings also served to understand the challenges and issues faced by investors and find suitable solutions
Egypt’s Vice Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir met with investors and manufacturers at the headquarters of the Industrial Development Authority (IDA). The Sunday meetings aim to ensure that manufacturers and investors receive industrial licences through precise and streamlined procedures to stimulate and sustain industrial investments.
These meetings also served to understand the challenges and issues faced by investors and find suitable solutions. This is part of a series of weekly meetings with investors to facilitate and improve procedures for industrial investors when issuing industrial licences, as well as to expedite these processes and resolve issues faced by struggling factories, making the industrial sector more attractive for investment.
Al-Wazir noted that the upcoming period will witness a series of measures to ease communication between the authority and investors, including sending SMS notifications to inform investors of the reasons for allocation rejections, whether technical or economic, to keep them informed and help them adjust their situations.
The minister also directed IDA employees to provide investors with a detailed letter outlining the documentary requirements for obtaining industrial licences. This is part of the Ministry of Industry’s strategy to overcome the obstacles and challenges facing investors wishing to enter the industrial sector.
He emphasised that operating licences for factories will only be granted if the factory is already established with machines ready for production.
Al-Wazir stated that decisive and stringent penalties will be applied to land hoarding, emphasising that procedures will be taken to issue legislative amendments to legalise the status of factories built on agricultural lands that are already operating and have previously been issued operating licences. This will be similar to the regularisation of residential buildings constructed on agricultural lands.
Al-Wazir said: “No industrial facility currently being constructed on agricultural land without a building permit or to be constructed will be licensed, according to the legislation issued earlier, which prohibits the establishment of factories on agricultural lands starting from 15 October 2023. This is considered an encroachment on agricultural lands that must be preserved and cared for, similar to the importance of industrial activities, both contributing to the GDP.”
He pointed out that investors should submit a technical study of their project, regardless of its activity or area, to allocate industrial land to them.
Additionally, he emphasised the necessity for investors to personally visit the headquarters of the Industrial Development Authority to complete the required documents and procedures to start their activities. He also noted that the ministry is reviewing the legal and financial status of investors who have paid reservation fees but have not been allocated industrial lands or units for a long time and is exploring the possibility of providing financial incentives to them, in the interest of investors.
The minister has previously directed the legalisation of statuses, the issuance of building permits, and granting additional periods for struggling factories including those who have obtained a building permit and completed more than 50% of construction will be granted an additional 6 months to complete the construction and apply for an operating license with a 100% exemption from delay fines.
Moreover, investors who have obtained a building permit but have not yet started construction and have faced circumstances beyond their control will be granted an additional 12 months to complete the construction and apply for an operating licence with exemptions of up to 50% from fines. Furthermore, investors who have obtained vacant land without a building permit will be granted an additional 18 months with a 25% exemption from the delay fine.
The minister also emphasised the necessity for investors to demonstrate seriousness in implementing their projects. In the case of non-compliance, the IDA has the right to cancel the land allocation and notify the relevant authority to withdraw the land from the investor within the grace period. |
