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Egyptian industry updates factory insurance rules
The Egyptian Ministry of Industry announced new facilitation measures regarding the procedures for issuing insurance certificates for factories, in collaboration with the Ministry of Housing, to regulate the costs associated with building industrial facilities. The amendments aim to reduce the direct costs on factory owners, thereby facilitating faster issuance of permits and decreasing the number of projects that need to be submitted for review by the decimal committee. The goal is to shorten the process of obtaining permits and encourage rapid commencement of production. Additionally, the adjustment seeks to eliminate the previous limit of one million Egyptian pounds that would be submitted to the committee, in order to keep pace with rising construction material prices. This move is intended to ease the burden on small and medium-sized factories and promote accelerated industrial development.
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