Industrial development: 6 months grace period for projects that exceed the timetable

Engineer Mohamed Abdel Karim, Chairman of the Public Authority for Industrial Development, revealed in a statement today that it was decided to grant a six-month free grace period for industrial projects within the timetable for each project according to its implementation phase (issuing a building permit – implementing construction foundations – issuing operating licenses and the industrial registry). This is to assist these projects in completing all their stages and obtaining the required licenses and documents.

Abdul Karim added that among the new measures taken by the Industrial Development Authority, a six-month free grace period will be granted to industrial projects that exceed the time schedule, as well as an exemption from 50% of fines, in order to help them adjust their conditions, complete the implementation of the project and obtain a license. Operation and the industrial registry, in accordance with several controls, including the non-issuance of a decision to withdraw the land or the industrial unit and submit to the Authority within 3 months from the date of the announcement in accordance with the rules regulating it.

The Head of Industrial Development indicated that these new measures aim to support the industrial community and existing and new projects, support them and facilitate the issuance of the documents required for them, and reduce fines for projects that exceeded their time periods or faltered in implementation processes as a result of the current economic conditions that affected all economic sectors. This step contributes to encouraging investment and completing all projects.

The head of industrial development explained that there are serious and continuous discussions with all manufacturers and business communities to solve all obstacles and problems facing industrial investment, whether in completing documents for projects or allocating land, and that there are continuous meetings with the Federation of Industries and associations of investors and businessmen, whether in Greater Cairo or in the governorates. To find out about all the challenges and work to solve them in the fastest way.

Engineer Mohamed Abdel Karim confirmed that there is integration between the Public Authority for Industrial Development and all parties concerned with the industrial investment file to improve the level of services provided to investors, pointing out that the last 4 months witnessed the services provided to investors simplifying and accelerating procedures, inspections and industrial records, as well as a boom in granting industrial licenses, whether By notification, which exceeded 5,500 licenses and more than 96 licenses in the pre-order.

Abdul Karim referred to the process of automating a number of services to be provided, as the last process of offering industrial lands was done through a mobile phone to facilitate the investors and to achieve the principle of transparency, as the application for industrial land is submitted, the bidding documents are purchased and fees are paid through the website, among several Steps we are working on in order to solve all obstacles that stand in front of industrial investment.

The Head of Industrial Development stressed that there are clear directives from Eng. Ahmed Samir, Minister of Trade and Industry, to provide all means of support to serious investors, facilitate procedures as much as possible, accelerate the banning of licenses and conduct inspections, as well as granting exemptions and deadlines for projects that have been delayed as a result of economic conditions.

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