Egypt announced executive regulations on Sunday for a new Industrial Licensing Law passed earlier this year, providing specific policy details. Investors will now have to deal with one government agency only as opposed to 10 before the law. The new regulations will reduce the waiting period for obtaining industrial licences to establish new facilities from 600 days to seven-30 days, Trade and Industry Minister Tarek Kabil told a press conference on Sunday. The waiting period for 80% of industries will be reduced to one week or less, while the remaining 20% will require about one month due to their higher risks to health, environment, safety or security, a ministry statement said. Regulations for the Investment Law, which is set offer investors a bundle of incentives such as tax breaks and rebates, are expected to be approved by the cabinet as early as this week. (