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Monday, 24 February 2020

Trade Ministry issues amendments to regulations for the Industrial Permits Act

REGULATION WATCH- Industrial Development Authority branch directors will be allowed to grant conditional licenses to industrial investors following new amendments by the Trade Ministry to the executive regulations governing the Industrial Permits Act, according to a ministry statement (pdf). IDA chief Magdy Ghazi said that the authority’s branch directors, or whomever they delegate, will now be empowered to grant facilities temporary licenses until they complete their paperwork, provided the decision is published in the Official Gazette. Trade Minister Nevin Gamea said the decision was made to simplify the process of setting up facilities and make the sector more attractive for investors.

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