Industrial investors can now pay for operation licenses every 3 or 5 years: IDA
Updated 6/1/2023 8:14:00 AM
Arab Finance: Minister of Trade and Industry Ahmed Samir has issued a resolution enabling investors in the industrial sector to pay for operation licenses every three or five years, instead of annual payment, according to a statement by the Industrial Development Authority (IDA) on May 31st.
As per the newly issued resolution, owners of licensed industrial enterprises will be allowed to pay licensing fees once each year.
Owners of pre-licensed high-risk industrial businesses will be charged follow-up licensing fees every three years, while owners of low-risk industrial enterprises will be able to pay the follow-up fees once for a five-year period.
This decision comes in line with the state’s strategy to facilitate regulations for investors to support the industrial sector, Head of IDA Mohamed Abdel Karim said.
Related News
