IDA allocates over 3,000 industrial units in 17 complexes across Egypt in 2023

Daily News Egypt
2 Min Read

The Industrial Development Authority (IDA) announced that it has allocated 3,049 new industrial units in 17 complexes in 15 governorates nationwide in 2023, as part of the presidential initiative to support small and medium-sized enterprises.

The IDA Chairperson Mohamed Abdel Karim said that the complexes were built with the highest construction standards and with full services, and that they included a total of 5,046 units, of which 2,628 units were in Upper Egypt, representing 52% of the total number.

Abdel Karim added that the IDA witnessed an unprecedented rise in performance and industrial growth rates, especially for the ready-built industrial units for small investors and the great facilitations they received.

He explained that the facilitations included reducing the price of the specifications document, exempting from the standard costs for studying the allocation request, reducing the down-payment insurance and the offers fee, simplifying the administrative documents, increasing the number of banks for financing, allowing investors to obtain more than one unit under rental or ownership system at cost price, and postponing the rent collection for nine months after receipt.

He also said that the IDA coordinated with the Micro, Small and Medium Enterprises Development Agency (MSMEDA) to provide financing facilities for machines and production requirements and to work with electricity and water companies to reduce their cost.

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