Egypt grants 16.4K licenses since approving industrial licensing law

Egypt’s General Authority for Industrial Development has granted  a total number of 16.4 thousand Licenses and Permits  since the issuance of industrial licensing law in May 2017 till the end of October 2018, according to the Vice-Chairman Emad Raafat.

He told Amwal Al Ghad that the licenses and permits  include licenses for high-risk projects and previous permits for high-risk projects.

However, The number of permits before  approving  the executive regulation for the law of facilitating the procedures of licensing industrial establishments No. 15/2017 have recorded 699 permits.

On the other hand, the regulation aims at simplifying the procedures and shortening the documentary cycle and eliminating the bureaucracy and facilitating investors to obtain the necessary licences and operating licences, which is one of the most important factors affecting the classification of Egypt in the doing business reports of international institutions.

The Vice Chairman pointed out that, under this regulation, the time of issuance of the licence will be reduced from 600 days to less than 7 days for licensing through notification and less than 30 days for pre-licensing, and the conversion of the system of implementation of procedures and issuance processes from a manual system to an online one.