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The Madbouly cabinet approved a raft of decisions in its weekly meeting, including ones that pertain to state-owned land, the establishment of a new freezone, and a new golden license issuance.
(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)
#1- Speeding up the process of legalizing the status of squatters on state-owned land: The cabinet approved a draft law that grants administrative bodies the right to handle any encroachments on state-owned lands under their jurisdictions through “administrative procedures,” through direct agreement with the building owner or with those who have reclaimed or cultivated that land.
It’s about more than reconciliation: House Housing Committee Secretary Amin Massoud told Enterprise that the draft law aims encourage investments in state-owned land — the recent wave of foreign investments we’ve seen in Ras El Hekma and expected investments in the Red Sea make it necessary to introduce the legislative amendments needed to ensure squatters legalize their stay on state-owned land so that it can attract investors.
What does it entail? The draft law aims to speed up the process of reconciling with squatters who submit requests to legalize their stay — giving us a clear timeline for issuing the executive regulations and quickly resolving pending applications and clearing the backlog of cases. The draft decision also includes more reasonable fees for legalization.
It’s not the first time we hear of this: Last November, the cabinet approved a very similar draft law and said it will fast-track the executive regulations to the act, with hopes of having them in place within a month from mid-November 2023.
#2- Gov’t to establish USD 60 mn freezone for linen and textile production: The cabinet approved a decision to set up a USD 60 mn freezone for the production of linen in Sadat City — dubbed Kingdom Linen. The entirety of the zone’s production will be exported and products will have a local component of no less than 30%.
#3- Emisal receives golden license: The cabinet approved a draft decision granting The Egyptian Minerals and Salts Company at Fayoum (Emisal) a golden license for its project to establish and operate a factory for the production of potassium sulfate fertilizers in Fayoum. The EGP 600 mn factory will be built on an area of 5.6k sqm.
