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Industry Minister unveils lease-to-own plan
The Egyptian Minister of Industry announced the launch of a lease-to-own system within the Egypt Industrial Digital Platform, aimed at facilitating industrial investment and reducing financial burdens on investors, while continuing to operate under the ownership and usufruct systems. The new system provides greater flexibility for investors through contracts lasting from 7 to 21 years ending with ownership, helping to direct resources towards establishing factories and upgrading equipment. Additionally, the ministry announced the availability of nine different mechanisms for offering and allocating industrial lands, including periodic auctions for ownership, usufruct, and rental systems, all designed to attract more investors and stimulate industrial development. Procedures for issuing building permits have also been amended to reduce costs, and a digital system has been activated to support manufacturers, all with the goal of easing business operations and promoting industrial expansion in Egypt.
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