New incentives and facilities for commercial developers to increase investment.

Bookmark and Share

Thursday - 13 September 2018 - 2:16 PM



Dr. Ibrahim Ashmawy, Assistant Minister of Supply and Internal Trade for Investment Affairs and Head of the Internal Trade Development Authority of the Ministry of Supply and Internal Trade stressed that the most important demands of investors and trade chains are to strengthen the role of the internal trade development authority to grant all licenses on behalf of all state agencies for the benefit of Companies operating in the activities of trade, as a consolidation of the licensing authorities and facilitation of investors, pointing out that there are more than 19 procedures by 16 government agencies, to extract corporate licensesHe added that a package of incentives, and facilities for investors was put in place and a memorandum of constraints facing investors was presented to the Minister of Supply and presented to the Council of Ministers. A committee was set up to discuss these challenges and to find solutions to them.



He stressed that the investor requests should be taken into consideration, adding that there is a perception that the internal trade development authority issues all licenses on behalf of different state agencies.



He stressed that the Minister of Supply directed that all future investment opportunities should be offered in full facilities, full licenses and a grace period, so that the investor can implement his projects immediately without any obstacles or entanglements in the licensing of water, electricity and other facilitiesHe said that a number of investors are demanding the allocation of land in the governorates of Upper Egypt, to implement development projects especially in the new areas, as well as in Mansoura and new Mansoura, and demanded the completion of one-stop shops procedures.