Based on the political leadership’s vision to support strategic industries and localize local manufacturing, Ministry of Industry The launch of a new set of investment incentives with significant benefits, aimed at encouraging the establishment of cold drawn, galvanized and colored sheet production plants, which is an essential input to many vital industries.
The team explained that this initiative comes within the framework of coordination with the Ministerial Group for Industrial Development, in order to create an attractive investment environment that enhances the competitiveness of Egyptian products and expands the production base, which contributes to achieving the country's objectives of reducing the import bill and increasing exports.
The new incentives include a set of exceptional facilitations that enhance the sector’s investment, most notably:
– Offering competitive prices for new project lands, with a preference in their allocation.
– Facilities in the payment mechanism with compliance with the deadlines for implementation.
Providing soft loans to support working capital and operating production lines.
- Issue the operating license within 24 hours once the necessary conditions and documents from the General Authority for Industrial Development are met.
Immediate availability of basic utilities such as electricity, water, gas and communications.
– Priority for local factories in meeting the needs of national projects.
He stressed that the products have multiple uses in strategic industries such as household appliances (such as refrigerators and microwaves), the automotive industry, and metal furniture, in addition to the medical and agricultural industries and metal packaging.
He also stressed that these incentives are part of the country’s strategy to build a strong industrial base that is competitive regionally and internationally, and reflect the government’s commitment to providing an ideal investment environment that enhances performance and transparency and supports investors, opening wide prospects for the industrial sector and enhancing opportunities to increase exports and create new jobs for young people.
The ministry also renewed its commitment to launching initiatives and programs that contribute to achieving sustainable industrial development, and supporting the country’s vision to make Egypt a regional industrial center, while promoting the slogan "Made in Egypt... for quality and leadership."
