Executive Regulations for Industrial Permits Act issued
05 Sep 2017
The executive regulations bring into force Law 15 (2017) on industrial licensing, which was approved by the parliament in May 2017. The law enhances the role of the Industrial Development Organisation, which will henceforth be the sole agency that businesses will have to deal with in order to secure a licence. It reduces significantly the time needed to obtain an industrial licence. Under the previous system, businesses needed to secure approvals from 11 agencies, and the process of obtaining a licence took up to 600 days. Now, however, the time needed to secure a licence for 80 per cent of industrial projects - those deemed to pose low risk - would be one week. For activities defined as posing a degree of risk on health, environmental, safety or security grounds, the process would be completed in 30 days.
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Promotion and facilitation (Investment facilitation )
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