New industrial facilities law to attract investments

Trade and Industry Minister Tarek Qabil asserted on Sunday that the executive regulations of the law aiming at facilitating measures to issue permits for establishing industrial facilities will make a revolution concerning industrial investment rates in Egypt in the coming period.

This came on the sidelines of a press conference that was held to announce the new regulations.

The minister added that the new regulations will contribute to attracting more regional and international industrial investments to Egypt as well as enhancing Egypt’s rating in reports issued by international institutions.

He also said that the new law aims at facilitating the measures, avoiding bureaucracy and shortening the time required to issue permits. 

The conference was also attended by Chairman of the Federation of Egyptian Industries Mohammed Al-Suwaidi, Chairman of the Federation of Egyptian Chambers of Commerce Ahmed El Wakil, Egyptian Union for Investors' Associations Head Mohamed Farid Khamis, Head of Parliament's Industry Committee Ahmed Samir and other senior officials.