$3 billion.. Projects with great facilities for investors

The industrialization and investment file is the first file before the government, and it seeks to take anything that facilitates procedures for serious investors in Egypt.

Engineer Mohamed Abdel Karim, Chairman of the Industrial Development Authority, revealed that there are a number of projects that will be announced soon, with investments exceeding $3 billion.

Administrative facilities

Eng. Mohamed Abdel-Karim confirmed that the political leadership directed to provide facilities to investors, and administrative facilities were provided to owners of troubled factories.

He continued the state's progress in facilitating and granting facilities to owners of industrial projects, as well as granting a period of 6 months without costs for industrial projects within the timetable for each project.

Offer 50% discount

He pointed out that a 50% discount on fines was provided to help reconcile the conditions of any industrial projects, as the new measures aim to support the industrial community and existing and new projects.

Eng. Mohamed Abdel Karim confirmed that the new procedures contribute to encouraging investment and completing all projects, noting that operating licenses by notification expire within two to five days, with a maximum of one week.

Facilitation for investors

He continued that the lands are being handed over at the price of utilities to facilitate the investors, and 86 industrial activities such as food, chemical and clothing industries have been set up to operate in the local market.

Engineer Mohamed Abdel Karim, Chairman of the Industrial Development Authority, added that there is a great demand for participation in industrial projects after applying various facilities.

He added that there are more than 5,000 operating plant licenses that have been issued during the last period, and there are Arab and foreign companies in several fields that have obtained land to start work with an area of 50,000 square meters.

The deadline granted by housing to real estate companies to implement their projects for free has expired

It is noteworthy that the deadline granted by the Ministry of Housing, estimated at 6 months, which began on July 22, 2022, and ended yesterday, January 23, 2023, has expired, without charge to be added to the period of implementing projects in plots of land allocated in the new cities.

It was approved by the Board of Directors of the New Urban Communities Authority in a previous meeting, in response to the requests submitted to the Authority, and to complete the implementation of the contracted projects in the new cities.