The Senate under its secretary Counselor Bahaa Eldin Abou Shoka gave the final approval Sunday to a bill on adjusting the status of unlicensed industrial establishments.

Earlier on October 12, 2022, Senate Speaker Abdel Wahab Abdel Razeq referred a government-drafted bill on adjusting the status of unlicensed industrial establishments to a joint committee from the trade and industry and the small, medium and micro-size enterprises, as well as the bureau of legislative and consultative affairs.

As per the bill, the Industrial Development Authority (IDA) would be granted the power for three years to allow unlicensed industrial projects to operate for a temporary one-year period.

The period could be extended for an additional two years by the trade and industry minister upon the recommendations of the IDA.

Source: State Information Service Egypt