Egypt to offer industrial land plots to investors within month

Egypt intends to offer new industrial lands to investors within a month, Chairman of Industrial Development Authority (IDA) Mohamed Abdel karim told Asharq Business on July 26th.

The lands to be offered are in the cities of October, the Tenth of Ramadan, and Sadat City, as well as in Fayoum, Beni Suef, and some governorates of Upper Egypt, Karim highlighted.

The move is aimed at boosting the private sector participation in the Egyptian economic sectors.

On March 26th, the General Authority for Freezones and Investment (GAFI) announced that it was studying the issuance of 40 new golden licenses.

The Golden License is a single approval for establishing, operating, and managing a project, and it is granted to companies by a decision of the cabinet, with the aim of encouraging local and foreign investors to accelerate the implementation process of different development projects.