Industrial Development Authority gives investors one month to explain project delays before withdrawing licenses

The Industrial Development Authority (IDA) is granting “non-serious” investors a grace period of one month to explain why they have failed to launch the projects on the land allocated to them in industrial zones, before revoking the licenses and land from investors without valid explanations, according to Al Borsa. According to an unnamed government source, the IDA found that projects are being stalled on 4300 pieces of land, particularly in Badr, El Sadat, and 10th of Ramadan cities.