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Industrial Development Authority launches fourth phase of electronic map for industrial investment It includes offering new investment opportunities on plots of land in the priority industrial sectors targeted by the trade ministry's plan
The Public Authority for Industrial Development recently announced the launch of the fourth phase of the electronic map for industrial investment, which includes offering new investment opportunities on plots of land in the priority industrial sectors targeted by the Ministry of Trade and Industry's plan. The plan aims to encourage domestic and foreign investment to invest in the industrial sector within the framework of the Egyptian state's efforts to move towards digital transformation and expand the provision of electronic services to the business community to facilitate investments. Mohamed Abdel Karim — Chairperson of the Authority — said that the fourth phase was launched in coordination and cooperation with the General Authority for Investment and Free Zones (GAFI), which represents a reactivation of the map of industrial investment opportunities within the framework of an integrated and comprehensive package of measures and facilities approved by the Industrial Development Authority to advance industrial investment and meet the growing demand on industrial lands. This is in order to support the growth of exports and deepen the local industry to achieve integration between local supply chains and integration into promising global supply chains, thus contributing to bridging market and export gaps and increasing the added value of local products. He pointed out that this stage includes plots of land for a total of 1,051 new industrial investment opportunities on an area of two million sqm distributed across 11 governorates nationwide. Abdel Karim added that a number of new facilities were provided in this offering, most notably the reduction of all standard costs by 50% compared to the previous offering, the cancellation of bid submission fees permanently as well as the cancellation of the financial guarantee, and the complete simplification of the required feasibility study to become a simplified model for the features of the project as well as allocating the land by ownership or usufruct system, and reducing the seriousness of reservation to 10% of the declared value of the land within the framework of the authority's keenness to simplify procedures and reduce costs to facilitate for investors. He added that detailed information will be made available to the investor about "the components and resources in the region in terms of road networks, ports and surrounding airports, as well as regulating legislation, and available investment incentives" to help them make the investment decision, pointing out that the reservation will be entirely electronical through the website, as the map is considered an interactive platform and an integrated information portal that contains the features of proposed projects for industrial investment in a number of Egyptian governorates through the website www.ida.gov.eg and choosing the industrial investment map. The head also indicated that an indicative list of "targeted activities" was also prepared for 86 industrial projects that were studied in cooperation with the Industry Modernisation Centre with the aim of deepening local industrialisation. He added that it will be possible for investors to withdraw the pamphlets starting from Thursday, 15 December until 10 January 2023, and that requests from investors who withdrew the pamphlets will continue to be received until 15 January 2023.
