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IDA to propose 30m sqm to industrial investors soon: Vice Chairman - Daily News Egypt

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IDA to propose 30m sqm to industrial investors soon: Vice Chairman

We are coordinating with GAFI for the new land proposals under the Single-Window system


The Industrial Development Authority (IDA) will propose 30m sqm of land to the industrial investors in the 10th of Ramadan, Sadat, Borg El-Arab, and Port Said cities in the upcoming period, according to IDA Vice Chairman Magdy Ghazy.

According to Ghazy, the lands have complete water, sanitation, and electricity facilities, and will be proposed in coordination with the General Authority for Investment and Free Zones (GAFI) under the Single-Window system. The system obliges any governmental body to present its lands that are ready for investment through a single department in GAFI.

Ghazy said IDA’s strategy includes three major axes; equipping lands with facilities, facilitating procedures, and proposing lands for investors. The statement came on the sidelines of a conference organised by Chinese company TEDA in Suez on Thursday.

He noted that IDA is currently cooperating with private industrial developers, like TEDA Egypt, in preparing and equipping these lands with facilities, before proposing them, to prepare them for industrial investment.

Acting CEO of GAFI Alaa Omar said the authority is coordinating with all the governmental bodies, including IDA, which own lands that are ready for investment before proposing them to the investors.

The Tourism Development Agency sent GAFI the data for 20 new plots of land, to propose them to investors in the upcoming period.

Omar said, in a statement to Daily News Egypt, that GAFI sent the data for the lands to the New Urban Communities Authority (NUCA) to be priced, before proposing them to the investors. GAFI depends on four bodies in pricing the lands, two of which are the Egyptian Survey Authority and NUCA.

According to Omar, NUCA finalised the pricing of 13 plots of land for the Tourism Development Agency in the past period. These plots are set to be proposed to investors in the upcoming period.

Omar said GAFI will meet with IDA representatives in the upcoming days to discuss proposing the industrial lands. He said that they started to receive the governorates’ land data and that it will propose the ready lands in the governorate of Beheira within the next two days.

Omar said all governorates sent the data for their lands that are ready for investment, except for seven governorates. He noted that there is communication with these seven governorates to present their data.

GAFI only accepts dispute-free lands that have the approvals of four sovereign bodies, including the Ministries of Petroleum, Antiquities, Environment, and Defence.

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https://dailyfeed.dailynewsegypt.com/2016/01/18/ida-to-propose-30m-sqm-to-industrial-investors-soon-vice-chairman/
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