House signs off on law granting IDA autonomy from Trade and Industry Ministry

LEGISLATION WATCH- House signs off on law granting IDA autonomy from Trade and Industry Ministry: The House of Representatives signed off on legislation regulating the work of the Industrial Development Authority, Al Borsa reports, citing a Trade and Industry Ministry statement. The law grants the agency financial and administrative independence from the ministry, which would make it the top industrial authority, responsible for allocating land to investors for industrial purposes and awarding industrial permits and licenses, IDA boss Ahmed Abdel Razek said. The House had given a preliminary nod to the bill earlier in January.