Egypt’s Industrial Development Authority plans to offer more land to investors for industrial investment

EGYPT – The Industrial Development Authority (IDA) has revealed that it aims to finalise the offering of 28.5m sqm of industrial lands by the end of 2020.

According to Sabry El-Shafei, Head of Central Unit for Policy and Legislative Studies at the IDA, the authority is also cooperating with the private sector to develop lands.

So far, the authority in partnership with the private sector has been able to establish 12 industrial zones that are fully equipped with advanced technology.

El-Shafei noted that the coming period will see the development of projects for private developers such as the New Salhia project for agricultural reclamation.

He added that this strategy is part of the plan by the Ministry of Trade and Industry to offer 60m sqm during the period from 2016-2020, noting that 31.5m sqm had already been completed.

The minister also disclosed that IDA has recently offered about 2,050 plots of land for industrial investment and made these plots available online thus reducing the time period and procedures taken by investors to acquire them.

With regards to small and medium-sized enterprises (SMEs), El-Shafei pointed out that the authority has launched four industrial parks so far in Sadat, Badr, Port Said, and Alexandria.

He also noted that the authority is currently establishing 13 industrial complexes, including 4,311 industrial units with areas of 60-150 sqm, to be completed by the end of 2020.

“IDA offers land with multiple systems, including usufruct system, ownership, and leasing.

It’s also offering free of charge meters, like the case of Upper Egypt’s lands, where 10m sqm were offered free of charge, and units were offered in the Mirghem 2 complex and Hurghada for rent EGP 20 per meter,” he elaborated.

He stressed that the role of the authority under the new law is not only to offer land, but also to facilitate the process of acquiring land for investment.

The authority has since reduced the license period from more than 600 days to seven days for low-risk industry and 30 days for high-risk.

It is also currently negotiating with other parties in order to transfer the mandate of industrial lands to the authority so as to make it easier for the authority to catalyze industrial development.

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