No serious investor’s request for industrial land will be rejected: El-Wazir – Dailynewsegypt
Egypt’s Vice Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel El-Wazir, has assured investors of the government’s commitment to providing ample industrial land and addressing the challenges they face.
In a meeting with over 70 investors, El-Wazir stressed that no serious investor’s request for industrial land would be denied. He highlighted the ongoing coordination between the Ministries of Industry and Housing, Utilities, and Urban Communities to identify available land in new cities, which will be announced soon by the Industrial Development Authority (IDA).
To better understand the specific needs of investors, the Minister instructed the IDA to conduct a survey to gather information on their preferred land specifications and factory sizes. This data will inform future land allocations.
El-Wazir also announced plans to make Egypt a global centre for tanning and manufacturing leather products. The government will soon offer various-sized warehouses and workshops in the Robeiki area, leveraging Egypt’s manufacturing capabilities, skilled workforce, and the competitiveness of its leather products in international markets.
To prevent land speculation and ensure efficient use of industrial land, the Minister outlined strict measures. The government will work with the Ministry of Housing to reclaim land that violates licences or construction deadlines and reallocate it to serious investors. Additionally, there will be a study on banning the sale or lease of industrial land to prevent speculative trading.
El-Wazir also addressed the challenges faced by struggling industrial projects. Those with building permits that have completed at least 50% of construction will be granted additional time to complete their projects, with reduced or waived delay penalties. Projects without building permits will also receive extensions.
The Minister listened attentively to the concerns and suggestions of the investors, directing his team to coordinate with relevant government agencies to address their issues. He acknowledged that some challenges would require prioritisation by the Ministerial Group for Industrial Development.
Regarding financing issues, El-Wazir assured investors that the government is working to provide support and assistance through national initiatives. He also mentioned the possibility of reconsidering a new initiative with the Central Bank for rescheduling due instalments.
To demonstrate the government’s commitment to facilitating industrial development, El-Wazir announced immediate solutions for several investor requests. He approved the allocation of a plot of land to the owner of a truck engine manufacturing plant in Helwan and granted permission for a serious investor to expand their salt production project in Port Said.