ICEC

IDA issues operational license to 11,000 investors

Industrial Development Authority has issued temporary and operational licenses to 11,000 investors till the end of July 2018, a source with knowledge said.

The sources told Amwal Al Ghad that these licenses have been counted since the adoption of the executive regulations of Law no. 15 of 2017 in May 2017.

“The new regulation aims at facilitating the licensing process; cutting paperwork and reducing bureaucracy; hence, making it easier for investors and enterprises to obtain industrial permits, as well as resolving the issue related to operation permits.

According to the new regulations, the process would take about 7 days for a license by notification and almost 30 days for a prior license instead of 600 days, in addition to the automatization of procedures and the adoption of a new system for complaints.

Comments
Loading...