(MENAFN- Daily News Egypt) Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, Kamel Al-Wazir, has announced the launch of the eighth phase of industrial land offerings by the Ministry of Industry, represented by the Industrial Development Authority (IDA), through Egypt Digital Industrial Platform via the Industrial Investment Map. This phase begins on Sunday, with the application deadline set for 8 December. It includes 2,612 new plots covering a total area of 15,207,000 sqm, spread across 37 industrial zones in 24 governorates, offering various industrial activities.

This offering is part of the Ministry of Industry's strategy to accelerate production, deepen local manufacturing, increase exports, and meet the growing demand for industrial investment land. The goal is to continuously provide attached industrial land to investors through the platform every three months, ensuring sustainable investment opportunities and encouraging both local and foreign industrial investment.

Al-Wazir highlighted the importance of the Ministerial Group for Industrial Development in advancing the industrial sector, emphasizing the availability of over 15 million square meters of industrial land across various regions. Regular land offerings every three months through a unified platform build investor confidence and support the government's efforts to localize industry, integrate local and global supply chains, and address import gaps.

The land plots, ranging from 120 to 500,000 sqm, are distributed across multiple governorates and support various industries, including food, engineering, pharmaceutical, chemical, textile, and building materials.

Al-Wazir pointed out that what distinguishes this offering is the decision to allow investors to apply for two opportunities: a primary and an alternative one, instead of applying for just one as was done previously. This change provides a greater chance for applicants to secure land for their industrial projects.

He added that the available plots are offered under two systems: ownership or usufruct, with prices based on the actual cost of utilities, as per the Prime Minister's directives, to ease the financial burden on investors. The annual usufruct fee is set at 5% of the ownership price per square meter. Additionally, applicants who had previously applied with accepted technical and financial studies but were unsuccessful in securing land, and who did not withdraw their booking deposit, will be given priority in this offering.

The IDA continues to offer facilitations and incentives to investors applying for industrial lands, including a 50% reduction in the cost of application studies, exemption from submission fees, the cancellation of the financial guarantee, simplification of the required feasibility study by using a simplified project outline, and a reduction in the booking fee to 10% of the announced land price. These measures are part of the Authority's efforts to simplify procedures and reduce costs for investors.

All booking procedures, the withdrawal of condition books, and the submission of required documents will be online from 1 to 8 December through the Egypt Digital Industrial Platform website in full coordination with the General Authority for Investment and Free Zones.

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