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45 Egyptian factories shut down due to license fee increases

The decision to increase license fees for Egyptian factories has forced 45 factories to close their doors in the industrial zone in New Cairo, Almesryoon reported yesterday.

According to the Egyptian news website the Head of the Egyptian Parliamentarian Committee Said Hassasin had briefed the parliament speaker, prime minister and the minister of trade and commerce about their closure.

Hassasin called for the Egyptian government to immediately work to sort out this crisis, which was the result of a decision made by the industrial development commission.

The MP accused the government of undermining industrial enterprises by imposing these fees.

Read: Egypt to get $2bn from IMF in July

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