{"id":642417,"date":"2017-08-14T04:09:33","date_gmt":"2017-08-14T04:09:33","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/14\/industrial-permits-act-executive-regulations-issued\/"},"modified":"2017-08-14T04:09:33","modified_gmt":"2017-08-14T04:09:33","slug":"industrial-permits-act-executive-regulations-issued","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/14\/industrial-permits-act-executive-regulations-issued\/","title":{"rendered":"Industrial Permits Act executive regulations issued"},"content":{"rendered":"

<\/a> The executive regulations of the Industrial Permits Act were issued <\/strong>on Sunday<\/strong> and published in the Official Gazette<\/a>, making it the law of the land. At a press conference announcing the regs, Trade and Industry Minister Tarek Kabil reminded us why the long-awaited act \u2014 a key component of the government\u2019s reform agenda \u2014 was important, Ahram Gate reports<\/a>. Investors will now have to deal with one government agency only as opposed to 11 before the act.<\/p>\n

The law will effectively cut the wait-time to receive approval for permits to seven or 30 <\/strong>days (depending on the licensing track) from a previous average of 600 days<\/strong>, Kabil added according to Al Masry Al Youm<\/a>. As we have previously noted, the law would grant permits in one of two tracks: One for heavy industry that carries significant environmental, health, safety, or security risks, and another for smaller, lower-risk manufacturers. Licensing fees and wait times will vary by track, with the heavy industry \/ higher risk tracking being more expensive and demanding a 30-day approval cycle. Read a refresher on the key points of the law here<\/strong><\/a>. <\/strong><\/p>\n

No conflict with the Investment Act:<\/strong> There is no conflict between the Industrial Permits Act \u2014 which will be implemented in investment zones for the first time \u2014 and the Investment Act, Kabil said at the conference, though he did not elaborate, according to Ahram Gate<\/a>. The Investment Act had done away with the \u201cone stop shop\u201d requirement<\/a> for privatizing land for the Trade and Industry Ministry and the ICT Ministry.<\/p>\n","protected":false},"excerpt":{"rendered":"

The executive regulations of the Industrial Permits Act were issued on Sunday and published in the Official Gazette, making it the law of the land. At a press conference announcing the regs, Trade and Industry Minister Tarek Kabil reminded us why the long-awaited act \u2014 a key component of the government\u2019s reform agenda \u2014 was […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-642417","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"61fc4aaf-66f2-426b-b995-8fde43e1af25","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[642407],"teaser":"","voice_url":""},"yoast_head":"\nIndustrial Permits Act executive regulations issued - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/14\/industrial-permits-act-executive-regulations-issued\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Industrial Permits Act executive regulations issued\" \/>\n<meta property=\"og:description\" content=\"The executive regulations of the Industrial Permits Act were issued on Sunday and published in the Official Gazette, making it the law of the land. 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