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Chairman of the Industrial Development Authority (IDA),
IDA Chairman stated that IDA has 7 basic duties focusing on restructuring IDA, setting the policy of industrial land allocation, defining the concept of foreign investment, applying the thought of new industrial zones through developers, laying down rules to exclude industrial defects, in addition to drawing Egypt's industrial investment map and activating the role of industry.
IDA Chairman declared that a simplified program is currently in process to follow up abiding by and execution of IT system & strategy and quality assurance & control. The program is also aimed at achieving decentralization via creating database of the market data, analysis of competitor and the orientation of direct foreign investment, having a working group which concentrates on reformation of policy and devising a system to manage customer relations, he elaborated.
IDA chairman pointed out that finance problems, related to establishing factories in Upper Egypt, were solved by signing a protocol with the National Bank of Egypt (NBE) and the Industrial Modernisation Center (IMC). Regarding the facilities granted in the South Valley governorates,
IDA Chairman said that the small-scale projects (with areas of up to 300m2) were exempted from fees, adding that area fees (of areas up to 10,000m2) were reduced to LE500 instead of LE10,000.
It's worth mentioning that the one-stop shop was established at IDA's headquarters in Cairo while IDA had representatives at the one-stop window in the General Authority for Investment and Free Zones in Cairo and Alexandria. Moreover, IDA will open new offices in some governorates and will be represented in the Social Fund for Development's offices. The first phase of IDA's website, for industrial land reservation and the services offered to investors, will be launched as well.
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