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Parliament approves law designating IDA independent economic body

Parliament approved a law designating the Industrial Development Authority (IDA) an independent body capable of meeting the needs of the industrial sector in Egypt, increasing investment opportunities, and pushing growth indicators to growth during the coming period The law stipulates that the IDA shall be a public economic entity that is legally independent. It shall …

Daily News Egypt

Banque Misr signs protocol with IDA to finance establishment of industrial parks for MSMEs

Banque Misr and the Industrial Development Authority (IDA) signed a cooperation protocol to finance the establishment of industrial parks. Mohamed El-Etreby, chairperson of Banque Misr, and chairperson of the Industrial Development Authority (IDA) Ahmed Abdel Razek signed the protocol. The agreement includes Banque Misr offering financing for allocated projects and reviewing them within 15 days. …

Hossam Mounir

Government reaches settlement with ArcelorMittal to avoid paying $600m in compensation

The Egyptian government, represented in the chairperson of the Industrial Development Authority (IDA) Ahmed Abdel Razek, has a settlement contract in London signed with the largest steel producer in the world, ArcelorMittal, in the presence of Investment Minister Dalia Khorshid and company chairperson Lakshmi Mittal. “The friendly settlement stipulates that the arbitration lawsuit [has been …

Daily News Egypt

IDA chairman reveals details of land allocation

The chairman of the Industrial Development Authority (IDA) has revealed details of a package of industrial-zone development projects involving 25m square metres of land. Speaking to Daily News Egypt on the sidelines of the second Egypt Automotive Summit in Cairo on Tuesday, General Ismail Gaber said that a large portion of the land, amounting to …

Daily News Egypt