The Cabinet, under Prime Minister Mostafa Madbouli, approved in a meeting Thursday 28/7/2022 a draft law amending some articles of Law No.15 of 2017 granting temporary operating permits for industrial entities till regulating their legal status.
The Cabinet also okayed a draft law raised by the Minister of Trade and Industry to amend executive regulations of the aforementioned law on facilitating the procedures of obtaining industrial licenses issued upon a decision of the Minister of Trade and Industry.
The decisions came in line with the Industrial Development Authority (IDA)’s efforts to facilitate all measures before investors and help them to easily obtain licenses, as part of the State’s drive to legalize the status of unlicensed industrial institutions.
As per the new amendments, the IDA will be liable to grant one-year temporary working permits for the industrial entities in the coming three years. The decision will be effective for three years, as of the date it goes into effect.
Source: State Information Service Egypt