27 August 2012

Egypt: Hatem Saleh Decreases Letters of Guarantee On Industrial Land

Minister of Industry and Foreign Trade Hatem Saleh decided to cut down the value of the credit letters on industrial lands to range between EGP15-30 per meter, for areas less than 1,000 meters, while the value increases from EGP30 to 50 per meter for areas bigger than 1,000 meters.

He also decided to unify the letters of guarantee on the lands of industrial investors in Upper Egypt and Sinai, to range between EGP15-30 per meter, regardless of the sum of the area of land.

Saleh said the ministry plans to achieve a 20 percent increase in exports value to hit about 160 billion pounds this year.

Copyright © 2012 Egypt State Information Service. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.