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IDA issues 3,904 building, operating permits to new plants in Q1
1 May 2022  -  Sector :  -  Entity :  -  Category : Industry News

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Report: The IDA issued 204 building permits and 3,700 operating licenses to new factories during the January-March period.

Cairo- May 1, 2022

According to a recent report, the Industrial Development Authority (IDA) issued, in the first quarter of the year, 204 building permits and 3,700 operating licenses (a total of 3,904 permits) to new factories, as well as 1,285 permanent industrial registers and 452 fixed-term ones.

The authority also conducted 1,589 studies, including 840 in the field of customs reductions and 749 in developing local products.

"We are committed to boosting investments in the manufacturing sector and achieving inclusive industrial development," Minister of Trade and Industry Nevine Gamea said commenting on the report.

She further stressed the ministry's keenness to deepen local industry by enhancing its capabilities and adopting the latest industrial technologies, hence improving the competitiveness of Egyptian products in both the domestic and foreign markets.

Head of the IDA Mohamed al-Zalat pointed out that 1,504 industrial units were allocated to investors in 11 industrial zones and 47 land contracts with industrial estate developers were approved, during the January-March period.

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