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Industry Minister updates Securities Group licensing process
The article focused on the Ministry of Industry's announcement regarding the amendment of the Decennial Consolidation Law to expedite industrial licensing procedures and encourage investment, in coordination with the Ministry of Housing. The amendments include temporarily calculating the land value under the consolidation at 0.10 of the land’s worth, which exempts industrial lands up to 10,000 square meters from the current Decennial Consolidation procedures, thereby simplifying and facilitating project implementation. Additionally, the ministry has launched a new land allocation system for industrial areas featuring nine different mechanisms, aimed at improving the investment environment and making it easier to acquire land. This includes offering ongoing investment opportunities through periodic land tenders every three months and updating the licensing system to enhance the quality of services provided to investors.
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