|
In the framework of the efforts to encourage industrial investment and facilitate constructing projects, Dr. Mahmud Essa, Minister of Industry and Foreign Trade issued a ministerial decree contains a series of decisive actions, including reducing the value of letters of guarantee on all lands within industrial zones in new cities and governorates, where it shall be applied retroactively and extending the additional grace period for all industrial projects.
The minister announced that such decree aims to reduce the value of letters of guarantee on all lands within industrial zones in new cities and governorates according to the area to become (Thirty pounds per a meter for a space less than one thousand square meters instead of 50 pounds per a meter and fifty pounds per a meter for a space more than one thousand square meters instead of 70 pounds per a meter). The previous procedures on the earlier letters will be applied retroactively in accordance with the applicable regulations and procedures in the Industrial Development Authority
L.E50 for each m2 instead of L.E100 for areas less than 1000 m2.
L.E70 for each m2 instead of L.E100 for areas more than 1000 m2.
|