Prime Minister Sherif Ismail has assigned Minister of Trade and Industry Tarek Qabil to present the final draft of the automotive industry enhancement law to the cabinet in a meeting set to take place on 13 July.
The law aims to enhance the automotive industry and provide the needed elements to help the industry advance, as well as construct a large industrial base to encourage the injection of more local and foreign investments into the sector. It also aims to create cooperation with various leading countries in order to benefit from their experiences and learn advanced technological methods in the automotive industry.
Ismail has assigned Qabil to prepare a comprehensive report outlining the actions that have been taken to eliminate the investment barriers in industrial areas. The report will be presented to the cabinet during the upcoming meeting.
A report will also be prepared about the challenges that investments in industrial areas faced in a number of governorates, including the procedures of land allocation in industrial areas, as well as procedures to issue approvals and licences for the implementation of all phases of the project, in addition to the multiplicity of administrative authorities.
The challenges to be outlined in the report will also include the needed procedures to install facilities in industrial areas, as well as enhancing the efficiency of internal roads, in addition to the marketing system which has led to the existence of a large production stock for many factories.