493/2023 to amend the requirements for granting licences to industrial establishments, as stated in Ministerial Resolution No. The Saturday decree increased the construction ratios for industrial projects from 40% to 65-70% of the total land area, according to the list of construction percentages for industrial fields in the decree. The Chairperson of the Industrial Development Authority, Nahed Youssef, said that the amendments were in response to the investors’ demands and the sector’s needs. The amendments aimed to optimize the use of industrial project land area by expanding industrial fields horizontally and increasing productivity, in line with the industrial development plans. Youssef indicated that the decision granted a grace period of 5 years for establishments that had an operating licence to manufacture prosthetic limbs, devices, and mobility aids, and a grace period of one year for those that manufactured medical supplies, devices, and diagnostic reagents, to reconcile their situation.

Source: Daily News Egypt December 31, 2023 23:08 UTC