Investment Incentives in Upper Egypt

Spending L.E100 Million to Develop the Industrial Zones in Upper Egypt as the First Phase:

• Within the framework of the industrial development program in the Upper Egypt, L.E100 million was spent from the fund of supporting, establishing, utilizing & developing the industrial zones in the Industrial Development Authority (IDA) for the Upper Egypt’s governorates so as to finalize infrastructure in the governorates’ industrial zones with a total of 1783 feddan.
   
• 7 governorates are to be utilized of this sum as following:

Attracting Investments of L.E1.8 Billion & Saving 20.000 Job Opportunities:

• Attracting investments of not less than L.E1.8 billion that will provide 20.000 job opportunities. Lands in these zones will be free of charge and with integral utilities. Each job opportunity will be granted with an investment of L.E15.000.
• Establishing huge industries with investments of each project not less than L.E15 million, in order to carry out the Upper Egypt development program & benefiting from its incentives packages to achieve the expected goals.
• Allocating 50% of the total area of each industrial zone to establish enterprises with investment not less than L.E15 million for each project and with an area of 10.000 M² increasingly.
• Allocating 25% of the industrial projects which their investments range between L.E5 & L.E15 million of each project and with a total area ranges between 3.000 & 10.000 M².
• Allocating the rest percentage of the total area for setting up enterprises with investments less than L.E5 million for each project & with a total area of 3000 M² or less.
   

Conditions for Granting Investment Incentives of the Industrial Enterprises in the Upper Egypt's governorates:

1. The factory’s investments are not to less than L.E15 million.
2. The company is not to enjoy taxation exemption.
3. The laborer is to enjoy a reliable certificate from the Industrial Training Council.
4. The laborer is to work at the same location of the factory.
5. The technical workforce percentage is to be 80% & the managerial one is to be 20% of the total number of the factory’s labors.
    

By fulfilling these Conditions, the Following Investment Incentives are to be granted:

• L.E15.000 is to be granted for each laborer working in the projects with maximum 25% of the total value of the project’s investments, the financial support will be offered in the form of paying the factory’s expenses such as sales tax, insurances, and customs in addition to the value of consuming water, electricity, fuel,……etc.
   

How to obtain investment incentives in Upper Egypt

1. Registering in the investment incentives’ program in the Support Fund and attached to the prepared form.
2. The incentives are to be spent as a compensation of the expenses of operating factories , according to the following documents:

• Duplicates of official accredited receipts indicate the consumption of electricity, fuel, water.
• Duplicates of the sales tax payment receipts.
• Duplicates of the social insurances payment receipts.
• Duplicates of different government expenses receipts.
• The official approvals of the new expansions.
• Statement illustrates the productive capacities before & after the new expansions.
• A copy of the accredited balance before & after the new expansions.
• Submitting the original copies of documents to reviewed.

The time period to pay out investment incentives

• Investment incentives are to be paid out during 60 days of the starting date of submitting an application.