04 August 2020 02:02 AM

PM follows up efforts of coordinating council for industrial zones

Thursday، 03 October 2019 - 10:55 AM

Prime Minister Mostafa Madbouli reviewed Wednesday 2/10/2019 the outcome of the actions taken by the coordinating council for industrial areas for the recent period.

This came during a meeting held under the premier in presence of Deputy Housing Minister and head of the council Randa El Menshawy.

Menshawy briefed the prime minister on the council's steps to achieve several targets, including the development of a new industrial land rating and allocation system to prevent brokerage and profiteering practices.

She also posted the premier on the council's endeavors for creating a standard web portal for industrial land maps and restructuring the Egyptian Exports Support Program.

The meeting also took up the council's efforts to offer more incentives for the industrial sector and the council's cooperation plan with United Nations Industrial Development Organization (UNIDO).

Menshawy noted that the council held 12 meetings with relevant exports councils where it had been agreed to settle exports support liabilities, which amounted to EGP 20 billion, through a number of debt settlement mechanisms.

In a bid to boost manufacturing, the council has developed new incentives for manufacturers by allowing them to pay the industrial land price over time in installments at a 7-percent interest rate, Menshawy added.


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