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INVESTMENT

Region: Egypt
Created: May 02, 2010, modified: Jan 13, 2012, overall rating: 2.333
Summary

The Industrial Development Authority (IDA) was established by the Presidential Decree No. 350 for the year 2005, which includes setting up a general economic authority to be responsible for executing industrial policies, stimulating and encouraging investments in the industrial sector.

According to the decree, the Authority is also in charge of devising and implementing land development policies for industrial purposes, and providing investors with lands and industrial licenses through the following:
1 -   Studying the industrial legislations and suggesting what it deems necessary.
2- Preparing industrial development studies and plans.
3- Setting the necessary development policies and plans for industrial zones.
4- Determining the lands allocated for industrial purposes.
5- Licensing establishment and management of industrial zones by the private sector's companies.
6- Utilizing and developing the lands of industrial zones, pricing and providing them for investors through the Industrial Land Support Fund.
7- Stimulating investors inside industrial zones on the basis of production, operating and export standards.
8- Following up and assessing industrial projects in coordination with the competent authorities to guarantee non-violation of the conditions set for utilizing industrial zones.
9- Setting general policies and plans for workers' training in the industrial field and supervising the projects funded by foreign grants or loans, so as to qualify workers and develop their abilities according to industrial requisites.
10- Activating the use of research and scientific projects' results to fulfill requisites of
industrial development.
11- Registering the companies and houses of expertise, working in the fields of
establishing, developing and modernizing the integrated engineering systems related to the industrial, technological and service activities.
12- Publishing books, magazines, bulletins and advertising materials in order to promote industrial zones & projects

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