The Industry and Trade Ministry has completed drafting legislation which would task the Industrial Development Authority (IDA) with managing and tendering land allocated to industrial projects, Industry and Trade Minister Tarek Kabil told the House Economic Committee on Sunday. As we noted back in June, the Ismail cabinet had approved drafting the law. The legislation, along with others that grant the New Urban Communities Authority exclusivity to manage allocating land for housing, would erode the powers of the General Authority for Investment and Free zones to tender land under the Investment Law. Kabil urged the House to expedite the approval of the Industry Permits Act, which cuts red tape on obtaining industry permits and shortens the time to obtain them to 30 days by allowing the IDA to be the sole party to issue them as we noted back in April. According to Deputy Finance Minister Ahmed Kouchouk, the environmental and security codes will not be enforced for industrial permits.