Industrial sector - Karin Karin via Pixabay
CAIRO - 11 December 2022: The Industrial Development Authority (IDA) announced the launch of the fourth phase of the electronic map for industrial investment.
The IDA said, in a statement, Sunday, that the map includes offering new investment opportunities on attached plots of land in the priority industrial sectors targeted by the Ministry of Trade and Industry's plan to encourage domestic and foreign investment to invest in the industrial sector.
This is within the framework of the Egyptian state's efforts to move towards digital transformation and expand the provision of electronic services to the business community to facilitate investment.
Mohamed Abdel Karim, Chairman of the Industrial Development Authority, said that the fourth phase was launched in coordination and cooperation with the General Authority for Investment and Free Zones, which represents a reactivation of the map of industrial investment opportunities.
He explained that this is within the framework of an integrated and comprehensive package of measures and facilitations approved by the IDA to advance industrial investment and meet the growing demands on industrial land, to support export growth and deepen local industry to achieve integration between local supply chains and integration into promising global supply chains, thus contributing to bridging market and export gaps and increasing the added value of local products.
IDA Chairman pointed out that this stage includes plots of land attached to a total of 1,051 new industrial investment opportunities on an area of up to 2 million square meters distributed over 11 governorates nationwide.
“A number of new facilitations were provided in this offering, most notably the reduction of all standard costs by 50 percent compared to the previous offering, the cancellation of bid submission fees permanently, as well as the cancellation of the financial guarantee, and the complete simplification of the required feasibility study to become a simplified model for project features.
In addition to allocating the land by ownership or usufruct system, and reducing the seriousness of reservation to 10 percent of the declared value of the land, as part of the Authority’s keenness to simplify procedures and reduce costs to facilitate investment.
He added that detailed information will be made available to the investor about "the components and resources in the region in terms of road networks, ports, and surrounding airports, as well as regulating legislation, and available investment incentives" to help him/her make an investment decision.