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Changes to Egyptian company licences will spur investment: minister Industrial authority reforms to be announced this week may involve simplifying the procedure for granting new companies licenses and the reduction of registration costs
The Industrial Development Authority (IDA) will announce changes to company registration procedures by the end of the week in a move to spur investment in industry and provide greater employment opportunities, Egypt's Minister of Industry and International Trade, Samir El-Sayad, has said. Possible changes will involve simplifying the procedure for granting new companies licenses and reducing registration costs for the next five years. El-Sayad was speaking during a meeting with members of the Industrial Zone Investors Association at the opening ceremony of a new television factory. The minister said that checking and facilitating an increase in industrial production was vital given the January 25 Revolution's main aim of achieving social justice. This will only be possibly by increasing productivity and providing employment opportunities, he added.