Egypt allocates industrial lands to investors for free

Pieces of land in some of Egypt’s industrial zones can now be allocated gratis to investors according to a new presidential decree, which was published on Tuesday in the state’s official gazette.

Decree no. 158/2016, which is based on Article 74 of the law on investment guarantees and incentives issued in 1997 and amended last year, will come into effect as of Wednesday.

According to the Egyptian gazette, the cabinet is entitled to set the financial and technical requirements to allocate the free-of-charge lands to investors.

The investment law was among 340 laws reviewed and approved in January by the parliament.

Source: Ahram Online

Comments
Loading...