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Wednesday, 12 September 2018

Cabinet economic group looks to establish committee to oversee industrial land allocation

Cabinet economic group to review how land is allocated to industry: Prime Minister Mostafa Madbouly met on Monday with the cabinet economic group to look into establishing a new committee to review how land is allocated to industry, according to a Madbouly Cabinet statement. The committee would be mandated with putting in place clear standards for allocating land, creating a website through which the Industrial Development Authority (IDA) can list available land plots and the time and details for their tenders, which had been expected to launch in June. Members of the committee will include the vice minister of finance for fiscal policy, the head of the IDA, and representatives from the New Urban Communities Authority, the Federation of Egyptian Industries, and the Egyptian Junior Business Association.

Looking into real estate tax? Meanwhile, the Finance Ministry has reportedly agreed to set up a joint committee with the Union of Egyptian Investors Associations (UEIA) to resolve real estate tax issues, association head Mohamed Farid Khamis said on Monday.

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