The Oracle logo is seen on its campus in Redwood City, California- Reuters
CAIRO – 21 September 2017: International firm Oracle Solution Center (OSC) has won a bid to automate offices of the Industrial Development Authority (IDA), sources from the authority said Thursday.
The sources, whom requested to remain anonymous, told Egypt Today that the tender was issued after ratifying the Industrial Permits Act in May, adding that OSC will start working on the project in October, which will be completed over three stages.
The stages are divided into automating procedures of granting licenses of land plots, building licenses and the industrial record, the sources explained.
On May 9, President Abdel Fatah al-Sisi approved the 15/2017 Industrial Permits Act that aims at easing measures for obtaining licenses for industrial establishments.
The act entails granting investors the needed approvals in no more than one month, instead of a period of almost two years under the old law 83/2002.
The Ministry of Trade and Industry has issued the act’s executive regulations on August 13.
Minister of Industry, Tarek Kabil, said in previous statements that 80 percent of the projects will be granted licenses upon notifications, while 20 percent will have to wait for the approval of the Industrial Development Authority (IDA) due to being categorized as “risky” industries.